Wave Counts Indicate Top Possible by Spring/2013 for S&P500

Below is a monthly chart of the S&P500 showing the updated wave counts. We are currently in primary wave C of cycle wave X from the March/2009 low. Primary wave C began at the October/2011 low and is forming an ending diagonal. Major wave 4 of primary wave C ended at the recent low on November 15th. Major wave 5 of primary wave C is now in progress and should top in the 1st half of 2013 (most likely by the spring, especially February to April). The ending price of major wave 5 should be near the upper teal trendline and above the September/2012 top.

                                 Monthly chart of S&P500, click to enlarge