TradingView
seabek
Dec 20, 2018 12:53 PM

Correction of 2009 rally targets 1535.00 Short

S&P 500SP

Description

After the five wave move up, a correction to Fibo retracements is likely over the next 3 years with a target date of 2024. The first target is the 38% retracement at 2072, the primary target is 1535. A break below 24%, 2404, and the lower line of the 2,4 channel would boost the likelihood of meeting the targets.
Comments
youngjw324
what makes you certain we've complete all 5 waves? Isn't this current correct, just wave 4 of 5? If so, where do you see wave 4 turning? 2072? Also then, where would wave 5 wind up?
seabek
@youngjw324, The last major correction was the Triangle that formed in 2018, often a fourth wave. Should now be followed by a larger correction of the entire 5-wave move up from 2009, scroll to right to see projections. Cheers!
More