SPX500 Bearish 5-Wave Impulse In Sight?

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The current SPX500 formation hints to a flat pattern consisting of waves Ⓐ-Ⓑ-Ⓒ of the primary degree.

At the time of writing, impulse wave Ⓐ is complete. Corrective wave Ⓑ is taking the form of a double zigzag (W)-(X)-(Y). It is expected to end near the previous high of 3400.

We could then see a decline in the impulse wave Ⓒ to the 2199.86 area. This level would be at the low that formed the bearish impulse Ⓐ.


An alternative scenario may indicate that a corrective move in cycle wave IV is already complete. The projected final impulse V consists of primary sub-waves ①-②-③-④-⑤.

Wave ⑤ could complete near the 3793 region.

The target would respect the tenancy of impulse waves ⑤ and ③ being equal.

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