With the extended C of 4 completed, SPX is ready to embark on the Final 5 of 5.This probably runs counter to most chartists who are bearish in the medium term, based no doubt on the massive HnS pattern with the neckline at 1821 already broken. Time will tell. The only question is how high will the final 5 of 5 reach. 2,200 to 2,300 certainly looks achievable. The 1.618 extension seems a bridge too far before the multi year bear cycle.
2,200 to 2,300 certainly NOT going to happen even in your wildest dreams. This is going to CRASH HARD!
Will_Wong
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One step at a time my friend! The trend is your friend! The market can remain irrational I get than you can stay solvent! One step at a time! If I am wrong I am wrong and will be glad to take my lumps and cut my positions! So far so good though!