wolfah
Long

SPX (9) Today wave 5?

TVC:SPX   S&P 500 Index
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Yesterday, SPX (15') finished "Micro"-wave 4 and the Micro "3" has had more than a 1.618 extension! Today, there will be wave "5". Targets for this wave (to break the brown trendline ) are 0.618 of "Micro"-wave 1 = 2420 or 1.618 of "Micro"-wave 1 = 2430. This is probably an optimistic view.
If wave "5" only is 1.000 of wave "1" ( target 2413), which is often the case after an extended "3", we might see some correction right below the trendline ("Subminuette"-wave 3 and 4) during the rest of the week.
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