The SPX from the bottom made at SPX 1010.90 in June 2010 appears to be forming a Primary degree impulse wave. Intermediate wave (5) of the structure appears to be under construction.
The most common relationship between waves "one" and "five" of an impulse wave is equality.
The actual percentage gain of Intermediate wave (1) is 35.58%.
A 35.58% percent gain from the Intermediate wave (4) bottom at 1810.10 targets SPX 2454.10.
A confirming calculation comes from the relationship of Intermediate waves (3) and (4).
The distance between waves (3) and (4) is 324.60 SPX points x 2 = 649.20 + 1810.10 = 2459.30.
A rough time estimate of this possible major peak is based on seasonal factors. April - May 2017 is the broad target zone.
I will have updates on this forecast when necessary.
Comments, questions and criticism are welcome.
Mark
The most common relationship between waves "one" and "five" of an impulse wave is equality.
The actual percentage gain of Intermediate wave (1) is 35.58%.
A 35.58% percent gain from the Intermediate wave (4) bottom at 1810.10 targets SPX 2454.10.
A confirming calculation comes from the relationship of Intermediate waves (3) and (4).
The distance between waves (3) and (4) is 324.60 SPX points x 2 = 649.20 + 1810.10 = 2459.30.
A rough time estimate of this possible major peak is based on seasonal factors. April - May 2017 is the broad target zone.
I will have updates on this forecast when necessary.
Comments, questions and criticism are welcome.
Mark