Stock Market and Elliott Wave Analysis

After making an extended Wave 1 down from the record top of the market (5 waves indicating the overall direction of the market), the major indicators are in the process of making an A,B,C corrective Wave 2. We are starting to see the completion of the C wave at present which may or may not take the market as high as DJI 11210, which would be a fibonacci 0.618 correction of the move down to the March 2009 lows from the market's highs. These types of C waves are often taken as the beginning of a new bull market, since they unfold in 5 waves, but they are bear traps.