David A. Banister- May 28th- Chief Strategist for TheMarketTrendForecast.com and ActiveTradingPartners.com

Back in Mid-April I had forecasted that a top was likely in the market indices in the US, and that we would likely see an A B C Correction to the downside. The forecast was to move to the sidelines if you were a mutual fund/index investor. Since then, the market has unfolded in an A B C fashion to the downside. It appeared to me on May 25th in pre-market this week that we would be completing the first leg of that ABC correction, and on May 25th for my TMTF and ATP service, I did an SP 500 index video in pre-market predicting a bottom that morning.  I had seen a 3-3-5 Elliott Wave correction since mid April unfold and this is a classic Elliott Wave pattern, but most of the time E wave forecasters miss it.  I then outlined a 103.50-104.50 SPY ETF likely bottom (104.38 was the actual) and a move to 113 on the SPY.  Since then, we did bottom as forecasted and now have hit 110.76 on the SPY.  The video below now brings us up to date:

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