theansweris42

Nested Bearish W1+2s. Top @ 2972. Invalidation @ ~2952.

Short
OANDA:SPX500USD   S&P 500 Index
I now have a high-confidence, high-precision wave-count on a bearish 1-2, 1-2 nested combination in progress. If this count is accurate then 30APR @ ~2972 is the top of this Bullish corrective move and it's likely to be years (if not decades) before we get back there imho. The nested wave 2 in progress currently has a little way more to go I feel. I wouldn't be surprised to see a move to ~2913 (78.6%) to break the Base channel. After this there could be any number of further nested 1-2 combos before a precipitous wave 3 / wave C. A move above 2952 invalidates this wave-count and is therefore a suitable stop-loss threshold.