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minorplanet2

Flat developing for SPY. Strong wave 3 down expected next

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
minorplanet2  
AMEX:SPY   SPDR S&P 500 ETF TRUST
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Based on Elliott wave principles, it appears a corrective flat is currently developing. A countertrend to $198.50 to $199.50 could be expected. After completion of the corrective flat, Elliot wave principles would tell us to expect the downward trend to resume.
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