The waves move in harmony according to the Fibonacci patterns and spirals. The Fibonacci is the actual backbone of the principle (although i haven't included it in this price level - even though I have, by virtue of ). The US economy is projected to be moving down. With the recent trade wars, French (fuel) tax riots, weakening global demand, drop in oil , and massive debt, the US should start a process of deleveraging soon.
The SPX is reflective of the global economy. The markets have been rising this year, the biggest performers in the upcoming quarters should be emerging economies by virtue of the law of diminishing returns. The global landscape is changing right before our eyes as China takes the stage as the the leading super power. Overall, Trump's Trade War was a misdirected battle that's turning out to be a blessing for all emerging economies because it's happening on the backdrop of President Xi's aggressive, futuristic and rather ambitious One Belt One Road Initiative.
The global landscape is going to be shaped by the actions of changing global movement and emerging drivers in the global macro economy.