S&P500: Elliott Wave comment at 4th of October

S&P500 will break its temporary support at 1100 soon. Targets are down and far from here!

S&P/MIB will consequently break its support area at 25.500-25.000.

Paulson/Bush plan has finally been approved, but are you sure that the markets desired that plan? Are you really sure that the american people have enough money to support fiscal pression necessary for 1 Trillion dollars government plan?

In these days we hear a lot of funny news.
For example, "Paulson/Bush plan is done to give stability to the markets" ...
Infact, during last Friday session the S&P500 was up more than 2% before the plan, and soon after the plan vote it began to sink and closed its session 1% down. Is this stability?
Furthermore, remember that nationalization is the enemy of Wall Street. Nationalization means profit per shares equal to zero: this is enough to start the market crash.

Dear readers, I am only an Informatic Engineer, a mad financial blogger, with no MBA, with a strong passion for Technical Analysis. I watch and analyze only two things: price and time. But sometimes it is enough to understand the crazy financial bullshits that we've been told by the media.

Targets written in my Weekly Forecast are still valid. For the moment, there is no need for me to make my readers spend money on new forecast with same targets.

H.F.L.