SPY Update: Is a almost over?

In my last SPY update I mentioned I felt we were still in an ED due to the way price has been behaving and the way MACD has been acting as well. MACD made its last high all the way back in wave 1. That shouldn't be the case if this was a "normal" impulsive wave. If this is in fact the correct count, then we should have a b wave retrace soon before heading to another all-time high to finish out wave V of (III). In ED's, the motive waves are all three wave moves. This has been the case since the Oct 22' lows.

The next primary line of resistance is the 1.618 extension @ $489.95. I expect some type of reaction there regardless of the strength it shows. This will most likely spook many people adding to the volatility as the economy has been on crutches for a while. Many economists have been saying for some time that a crash is headed our way soon. If this comes to fruition, we will drop HARD after wave V of (III) completes. The "normal" price action after an ED completes is a rapid drop to the point of origin. In this case that would be a price point of $348.11 which equates to a drop of 28.95%. As said above, that will be a quick/hard fall and will seem as if the ENTIRE market is crashing. IDK how long until that happens, but when it does, you will know ahead of time should you be following me still.

Reminder: My schedule will change dramatically starting March 1st.