Alternate SPY Wave Count

So many ways to look at the same thing. Here is a monthly line chart with log prices. From an Elliott Wave analysis perspective, it could even be possible that we are just experiencing Major 4 of Primary 3, going back from the 2009 lows. A wave 5 to follow on this as well as a number of other perspectives. Using call options here as a hedging tool in the event that the bottom falls out. With so much foreign central bank participation, It's hard to imagine that the CBs won't crank up the printing presses to buy more, protecting their interests. Or, like corporations, are they also price insensitive?