SPX still expecting 3850 first target .The double bottom is clearly visible in SPX for a target 3850.. If investor is patient enough we can easily see target of 3850 and then final target in this leg is 4500. who knows even 8500 is possible in this crazy time... (wave 1 gave 4 times return and wave 3 also index gave 4 times in that logic Wave 5 also can to go 8500 in SPX if things are favorable .. I might sound crazy but anything possible... ...but for now let us focus on 3850 first and then after some correction SPX jump up to 4500 Please do not worry about short term volatility...
How 4500 target is calculated - Reverse head and shoulder pattern was visible when wave 4 drop happened... (2191 -3380 (neck line) length of head is 1189 (wave 4 correction) ..3380 is base of wave 3... 3380 +1189 = target comes to 4569...
Stop loss need to be around 3520 to confirm that long term wave 5 rally is failing...
How 4500 target is calculated - Reverse head and shoulder pattern was visible when wave 4 drop happened... (2191 -3380 (neck line) length of head is 1189 (wave 4 correction) ..3380 is base of wave 3... 3380 +1189 = target comes to 4569...
Stop loss need to be around 3520 to confirm that long term wave 5 rally is failing...
