The S&P 500 will likely pull back and complete a wave 4 in a larger 5 wave push higher. SPX will then bounce to test its 78.6 % fib at 3175 and maybe fill the gap at 3190. Once the 5 wave push higher concludes, it will complete a long drawn out abc correction finishing wave 2. From there, a crash wave 3 should begin, that will produce an ugly summer selloff in July and August. I think the S&P 500 bottoms in either Sept. or October.
@geogiac, The S&P 500 is likely in an event driven bear market. Event driven bear markets are shorter in duration than other bear markets. I expect the 5 waves to be a 5-3-5 pattern. I expect that the next 5 wave push lower will take the S&P 500 down to 1650 to 1700 to conclude the bear market. In June, the market produced a reversal. In July it will get the follow through. This is a bear market rally. Past bear market rallies have the same behaviour. #BearMarketRally