S&P500: Elliott Wave comment at 19th of September

Is the bear market finally ended? Will Paulson and Central Banks operations be effective on subprime crisis? It is too early to say yes, and there are a lot of doubts surrounding this operation. For example, how much will the american people pay for this? 20 billion dollars? 200 billion dollars? And how will they pay this, if they don't have enough money even to pay for their home loans?

From a technical point of view, safe zone for S&P500 is only above 1310, and for S&P/MIB is above 29.500. Before these crossings, it is unsafe to say that the bear market has ended.

For Elliott Wave counting, further details, targets, setup dates and technical charts, please refer to my NEW updated S&P500 and S&P/MIB Weekly Reports.

H.F.L.