How far will we go?

TVC:SPX   S&P 500 Index
Like i mentioned in my last analysis, we would probably top out at 3200 - which we did. We're now in a corrective move but how far will we pull back? I couldn't quite capture it on the chart, but the current wave A is in it's third wave, so we will see it bottom out soon after which the corrective b wave will move up to around 3100. After this move we will see a wave C come in 5 waves, but how far it will move we will just have to see. It doesn't have to pull back to the . 618 retracement at 2600 and could just go back down to the bottom of wave A again - we will just have to wait and see.

What will be extremely interesting to see is after the overall corrective move is over, we will most likely be entering a wave 3 which will - believe it or not - be EVEN STRONGER than the wave 1 we saw. This might seem ridiculous and i don't really believe it myself, but it is what the markets are telling us.


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