The current SPX500 structure suggests a new bullish impulse in wave V which consists of primary sub-waves ①-②-③-④-⑤.
Horizontal correction wave ④, which took the form of an intermediate flat, has ended, whereas primary impulsive wave ⑤ is almost complete.
The end of the intermediate wave (5) could take prices up to 4100.00. Here, primary wave ⑤ will be at 76.4% of wave ③.
An alternative scenario shows that primary correction ④ has a longer structure and is still under development. This correction is assumed to be an intermediate triangle (A)-(B)-(C)-(D)-(E).
In the near future, we could see the completion of this correction near 3342.91.
At that level, wave (E) will be at 76.4% of wave (D).
Finally, we could see growth in primary wave ⑤.