The S&P 500 (INDEXSP:.INX) has been in a potential 5 wave rally going all the way back to October 2011 lows of 1074. This type of 5 wave rally is common in a bull market but must be watched closely as it could also signal another large correction just around the corner from current 1464 levels on the S&P 500 Index. Once you complete a 5 wave bullish pattern there is commonly a 3 wave corrective decline therefore determining where those key pivot points are is crucial for market watchers. If we take a look at the length of ...