Now that we could have gained some experience about how the looming trade war fears can ”frighten and scare away” investors, we can relabel the final phase of the S&P 500. If we measure the 1.618 length of wave 1 from the bottom of wave 2 we get almost exactly the top of wave 3. And if we assume that the length of wave 1 will approximately equal wave 5 and also assume that the total length of this final phase will be divided by the bottom of the 4th wave at the ratio of 0.618-0.382, we get that the top will have to be somewhere between 3013 and 3030. But who knows? Maybe it is just an expanded flat correction.
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Another possible formation for the S&P 500, if it is really making a flat correction as wave 4.