Bernanke already ended its term and handed over the fate of United States to Yellen.
SPX continued to fall 5 waves down, a warning to everyone that this could be a Primary Wave III formation.
We continue to look closely each day on the movement of US and EU markets, and as of this moment, Short-Medium term uptrend still intact for US Germany and FTSE. and 5 waves down means a possible upward correction to 0.382, I shall downgrade and give 20% probability we are still in an UPTREND. A rally back to 1815 is needed to be bullish.
On the bearish side, the 5 waves down was a big NO NO. Formation like this usually set up a bigger move down, especially selldown was impulsive. We are shy 2 pts SPX and 5pts DOW. It is very close to calling an end of Primary Wave III. A fall below 1767 SPX and 15703 DOW will confirm the Primary Wave III peak. 80% chance
Quite scary, but this could be the correction we are all waiting for. US lost 4.2% since the 2014 peak. And a target downside of 1640 if confirmed Primary Wave III peak.
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