Hello everyone,
Similar to the movements of the dow, we now most likely will see the S&P 500 waving up (turning point: green box).
The question is: how much points will the SPX make? I think we have to decide later, if we will see a new all-time high or a massive sell-off down to complete wave 4 at 2.200 points (for further information, please check links below). The Decision point could be my yellow box in the chart. I still prefer a final sell-off, but this could change, if the SPX will built an impulsive structure up – if so, a new all-time high will be more likely.
Updates will follow…
Don’t hesitate to contact me, if you have any questions or other ideas!
Take care,
tgo