I have these 2 micro EW-counts to find end target of the SP500
My primary EW-count is an ED ( ). The wave SP are in at the moment is a wave iii of 5 and can’t exceed the length of wave i of 5 which puts it's maximum at 1564. Thus, we need today an immediately wave iv of 5 drop and it must remain above 1548, as an ED wave iv of 5 can breach the wave i of 5 high of 1557, but can’t break below wave ii of 5.
For the alternate EW-count the wave iii of 3 SP are in can’t turn back now and must therefore not breach the wave i of 5 high of 1557. It needs to keep grinding up tomorrow near 1574.
In short: The way you will be able to separate the two counts are by the wave action right after the opening bell. A drop below 1557 - then watch for the primary to end in an ED at 1565 witch also at the same time is the target for the latest IHS . A continued move up, then watch for the alternate EW-count to end at 1580-1590.
NB! Be aware of - that wave i of 5 could have ended at 1553,03 instead and wave 2 at 1548,25. 0, 01 point above end of minor wave 4 low at 1548,24. It does in fact open up for a SHS with a neckline at 1448 with at left shoulder set the 12. of march at 1557. That could be a signal of a top in SP .
Safe trading gents!
I then see the correction will be imminent for April when tax is supposed to be paid in US an companies missing there targets....like Fedex did recently. In other words...If it's indeed is a wave 4 we are seeing now playing out the small correction as showed at top of chart all we get for now and I will close my short position.