Wave (4) in the SPX may be taking the form of a double zig-zag with the X wave currently underway. After the X wave is complete a large decline in the Y wave should commence.
Note 4th waves are often very complex and there are other alternatives to this idea which will only become apparent as the wave develops.
Good Luck
Note 4th waves are often very complex and there are other alternatives to this idea which will only become apparent as the wave develops.
Good Luck
Comment:
It is possible that wave (4) is tracing out a triangle BUT the decline would be very small and less than 0.236 the 3rd wave. Hence I think the double zig-zag is more likely as the decline would reach at least 2374 which is the 0.236 point of wave 3.