I really have this gut feeling that the S&P is going to hit 3676 before it corrects. It punched 1.146 fib ext off the March low on Monday and hung around all week. There is no way the algorithms are not going to stop until it hits 1.236 now. 1.236 is the max a corrective wave B can hit, and the market did not come this far from March to give up this close. See my recent Bull thesis idea for more complete details. Also not that the trend line off the March low lines up nicely with the previous rally and correction to make a 3676 top on Wednesday.
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I guess it could take as long as first week of Dec.
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Note how the two different 1.236 fib extensions line up perfectly.
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This idea may be junk. It was pointed out to me that in the SPX500 that it has already reached this level. The SPX is still short, so I am not sure what that means.
