cguthrie922
Long

This is How The S&P 500 Index Will Rally

SPCFD:SPX   S&P 500 Index
I saw the drop that just happened prior to it occurring. I did not see it dropping so quickly and well beyond typical intermediate wave 4s. With this most recent retracement covering 92% of all of wave 3's gains, it is time for the final uptrend to begin. Intermediate wave 3 took over 50 days to gain what intermediate wave 4 nearly lost in 14. My final analysis has the index regaining around 300 points in 25 trading days. This seems nearly impossible, but so was the recent decline. I have identified 15 possible levels for the top to occur. These levels are based on Fibonacci extensions, correlations to the other intermediate waves, and historical movement of the index since the beginning. The levels of interest are below. The bolded numbers represent the most likely top in my estimate.

2887.05
2911.46
2936.33
2948.32
2957.69
2967.80
2999.66

3034.38
3036.00
3065.17
3065.37
3094.74
3131.08
3145.97
3383.19

The full analysis is available at my site for free along with other data.
Expand Your Knowledge
Elliott Wave Ideas
Website: elliottwaveideas.com
Twitter: @chrisguthrieusa
Facebook: https://www.facebook.com/LimitlessLifeSkills/

Comments

@cguthrie922
After today's reversal to the downside do you think we are still in intermediate wave 4 ?
Reply
cguthrie922 abhijit.majumdar
@abhijit.majumdar, I questioned it at first, but it was the bottom of minute wave 2 (corrective wave) that was necessary. The first drop this morning only satisfied wave C of that internal wave. The final drop we just experienced around 11:52 completed wave E and minute wave 2. Expect the rise to be fast and heavy over the next few days.
Reply
How can w4 overlap w1?
Reply
cguthrie922 johnroleson
@johnroleson, it can and does. It just cannot go below wave 2
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out