Longer Term Update

Since I have been asked a few times over the last week about the larger degree perspective, I just wanted to put out a quick post about the longer term count.  Since it does not change from week to week, I have only posted it on my weekend updates once every month or so.

Currently, we are completing (3) of v of 3 off the 2009 lows, based upon our primary count.  This means that once we complete wave (3) within the next few weeks, my expectation is to see a multi-month pullback towards the 2330-2400SPX for wave (4) of v of 3.

But, as you can see from the attached monthly chart, this count suggests that this bull market can still take a number of years until it completes, and suggests that we will likely exceed the 3000 region before it has completed. 

LONGTERMSPX
LONGTERMSPX
Avi Gilburt is founder of ElliottWaveTrader.net.