Will Wong

SPX-Generation 5Th of 5TH Top coming up

SP:SPX   S&P 500 Index
596 0 13
Three possible trend lines provides three possible wave {iv}. Wave 5 top based on 1.618 extension equals $2910. A popular alternate top is $3,000. Another possibility is that Wave 5 top is already in. 1.618 extension is normal but not essential.
Comment: Of the three possibilities, this is the most favored count. It allows for a intermediate wave b bounce for an oversold condition from last week's selling and took into consideration the two most recent trend supports.

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