And instead of (1)-(2)-(3), it could be A-B-C, completing wave D of an expanding triangle that would have started in March 2000.
That would mean we are at wave E, which would take S&P 500 below 666,79 (500 would be a probable rounded number).
- If we are on wave 4, probable targets could be 1820 for wave A and 1580 for wave C.
- If we are on wave E, probable targets could be 1735 for wave 1 of A, I'd say by November, touching the major support TL.
- A @ 1735.
- B @ 1980.
- C @ 1580.
This idea makes sense to me, considering the respective confluences. Of course that, at this stage, we can't have more than ideas, so let's see how fractal waves are going to end, so that then we can project targets with some level of precision.