I am watching for the last wave 5 of the last wave 5 to complete the ascending wave B and then a decline will start which will bring us to below 14.87 in the impulsive wave 5.
What seems to have started yesterday is precisely this missing piece: the last ascending wave C. I exited my earlier short position in S&P which I opened at the last high of 2132, and waiting for another top to form in MSFT and consequently in S&P in order to re-enter. I expect this to happen next week - with all other markets aligned: Crude will get to its top of the wave 5, DXY and Gold will complete its correction. all will be set for a good reversal.
While the reversal of S&P is taking quite some time, I am firmly convinced that the reversal will happen at around the current levels - it just takes some time for the big machine to brake and turn around. But this will happen. And God save those who are still long.