The current markup of the SPX500 index shows the continuation of a large impulse consisting of sub-waves I-II-III-IV-V.
After the cycle correction IV ended in the form of a primary triple zigzag, the price began to move higher and build a cycle fifth wave.
It is assumed that four parts have been completed within the impulse V. In the near future, prices could move higher to 4815.42, which was marked by the cycle impulse wave III.
According to the alternative markup, the construction of correction IV can continue. There is a high probability that its actionary wave Ⓩ tends to equality with the wave Ⓨ.
In the near future, the price is expected to fall to the price mark of 3335.47. This is where sub-waves Ⓩ and Ⓨ will be equal to each other.
The intermediate wave (C) can take the form of a simple impulse, or an ending diagonal.
