It looks like first 5 waves down of wave A are over in the upcoming zigzag structure. Next we could see 3 waves up in the countertrend correction, wave B. It could reach between 50% and 78.6% of wave A. Then there is a second leg of 5 waves down of wave C. Let us see how it goes.
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It reached the charted end of zigzag, it would be a magic if it falls right from there
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Now it is safe to say that the blue zigzag I added to the chart is showing magical accuracy )))
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It could be a full retracement in wave B to shape regular flat
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two other options white & blue labels As soon as previous top at 2789.15 wasn't tagged there is a chance that we have very deep wave 2 of C (white). Blue option have no problem with this invalidation level and can unfold anyway.
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Update with new labels trend is your friend
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Updated target at 2434 where Y=W (yellow labels)
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Updated targets: Target 1 = end of W = 2533 Target 2 = y=w (yellow) = 2472
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initial idea almost fully came true but the reversal invalidated this pattern at the end
@aibek, I am still using your chart for SPX reference and it is matching magically.
Right now it is at the bounce off the wave 3 of C, your chart shows ~2650 then turn around to continue wave5.
But given today's action, I think SPX can go well above 2700 and then down, do you have any thoughts? Thanks.