SPX500 ready to push towards 1750 as Wave (3) on its way

SPX500 larger degree wave counts are suggesting that the drop from 3400 towards 2200 was clearly sub divided into 5 waves, Wave (1) on the chart. The subsequent rally towards 3230 was in 3 waves, A-B-C, Wave (2) on the chart. If the above counts hold well, SPX500 has resumed a Wave (3) lower since 3230 highs and ideally it should stay below that. The fibonacci extensions are pointing towards 1750 and further but it would take several weeks to reach there. Going further, the indice might have carved a lower high at 3165 and bears should remain inclined to push lower again. A drop below 2965 would confirm that a lower top is in place with respect to price action and would also accelerate further.

Strategy:

Short against 3400, targeting below 2200.

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