Active SPX Trade=Long@1405
T2=Stop@1401
S2=10+=bullish=Trend Score + Turn Score=8+5.
Comments=The next wave is likely to be a mini wave 3 up or wave 3/C down, but if SPX decides to stagnate into the Jackson Hole speech, we may first see triangulation or chop at 1400-1415/1420. Since I believe the Fed will not take any more major actions before the elections yet doesn't want to rock the boat, I expect Bernanke to do a lot of jawboning which the market should at least initially like. There are a confluence of events Sep 12-15 (FOMC, Germany, EU, Apple) that should set the next large trend, but, assuming the direction is down, SPX may top and chop before then. Good luck.
IS THIS THE END OF THE BULL MARKET ?
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