S&P500: 3200 reached! What's next

Last week I showed the SPX would reach 3200+. See here. BINGO we have arrived. What's next?! Most likely a few more scribbles higher to finish this impulse off the 3070 low and then a move down back to 3070 for wave-4. As this market continues to count well as an impulse up and not as some sort of over-extended b-wave or what not, applying the impulse wave-count and the associated Fibonacci-ratios is clearly the best way to go to be as accurate as possible in forecasting this market. Extensions of this up wave are of course always possible, so don't be surprised if it blasts to 3230-3255. But all we can go by initially is standard patterns and for now it is following these standard patterns. A break and close below 3180 will go a long way to suggest wave-4 is underway. Once wave-4 is complete (and yes after 3 always comes 4!) then we should see wave-5 of wave-iii blast up to 3300s :-) Trade safe!