The corrective phase of the S&P

In my view, the S&P 500 index is forming a diametric pattern in the long-term timeframe, with wave (E) currently nearing completion. Following this, the index is expected to enter a corrective phase, which could involve both price and time corrections:

- The price correction may extend to the range of the drawn box, potentially dropping the index to 3,500 points.

- Alternatively, the price could decline to the 4,700–4,800 range and then consolidate over time to complete the time correction.

Good luck
NEoWave Chart