Elliott Wave View: S&P 500 (SPX) Tested 2018 High

The rally from December 26, 2018 low in S&P 500 (SPX) remains in progress. We are labeling this rally as an impulse Elliott Wave structure, which is 5 waves structure. In the chart below, we can see wave (3) ended at 2813 and wave (4) ended at 2722.21. The internal of wave (4) unfolded as a zigzag Elliott Wave structure. Wave A of (4) ended at 2774.98, wave B of (4) ended at 2816, and wave C of (4) ended at 2722.21. Wave (4) pullback ended at our blue box inflection area where wave C = wave A. This blue box area is a high frequency area where both buyers and sellers agree in direction of the next move for 3 waves at least. Anyone who bought the dips at the blue box should now have a risk free trade where stop is at break even level. Current move from 03/08 low ended at 2852 and is currently doing a flat structure in wave 2. As long as it stays above 2722.11 we expect it to extend higher.