SPX Hitting Extreme Resistance Level - Epic Crash imminent

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Back in October 2021 I attempted to project a fibonacci ration that would predict the top of the current market cycle from the bottom of the 2008/2009 crash. I used smaller fibonacci rations such as the 236 and 146 to identify where a fibonacci from the top would end up. The result was approximately 5814. We passed this level this week and there is weakness showing. I believe this week ends with some type of abandoned baby pattern then we see the drop. I'm not sure what this corresponds to on a fundamental analysis level, but this one will be big. This would end a 5 wave elliot pattern Super Cycle from the 1920's crash where the 4th wave was the 2008/2009. Good luck everyone!

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some type of abandonned baby:




The downward momentum is more evident on the DJI on the weekly than that SPX on the weekly:

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Huge gap down almost precisely on the fib resistance line. I believe the downturn has officially begun.

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The 2W ended on a tweezer top. I found that typically a top is the result of a strong bar up through a resistance level, followed by a pullback, eventually retesting with one or two wicks through with another pullback in between followed by the real downward move. I expect this first move to go at least as low as 5350, possibly as low as 4720 before retesting the 5814 fib level, likely with that first wick through on a 2W timeframe.

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Critical angle proposal:

These are the main critical angles in the 5th wave from 2011-current. I believe that the bottom most diagonal will provide some support, likely forming a tweezer bottom on the 2W with strong bars down to it then back up. This will be the last time this will be support. The second bottom diagonal has been tested thoroughly so will likely fail quickly and not provide support on the 2W.

The intersection of the 5th cycle 0.618 and the bottom diagonal will be 3861.40 on approximately March 31, 2025. This would be a major buy for likely a 20%+ bounce.