The Path To 2400 Goes Through...

SP:SPX   S&P 500 Index
The bottom was on track timewise from my last analysis, however, the bottom was not as low as projected. Intermediate wave C inside of Primary wave B ended higher than I would have liked but 86% retracement of an A wave in an overall corrective wave is not unusual. Here is the estimated path to the high. Analysis of historical data has Primary wave C lasting 34-67 days. The path for 67 days is laid out here in which the final top flirts with 4400 around June 16, 2023.

I will re-look at the path as each of the 5 Intermediate waves finalize. Typical catalysts could be the Fed and CPI numbers, however the debt ceiling deadline falls in line with the top. I have zero doubt we are heading for the worse part of this correction, but the path is likely through 4400 first.

All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!

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