S&P500: Elliott Wave comment at 8th of September

S&P500 pullback target is 1270-1280. Only above 1310 this pullback will be something different. I think that this is the last movement up before the big crash.

S&P/MIB situation is very similar: 28.800 is the first target of this pullback, and at that level there is a strong resistance. Bearish market is over only above 29.500. S&P/MIB could be dragged down by S&P500 possible crash. Support at 27.500 is very important: a break of this support will open the door to a new violent bearish movement.

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

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