On the S&P500 I see such a picture.
Draw a triangle in the wave . In the short-term, a fall to (d) is likely. After the completion of the figure it seems to me a drop to ~ 2160 points. On the graphs below I will show the older timeframes and why exactly there.
In the long run current as a wave motion I see (4), after which follow growth and overhigh with the end of the wave (5) of 3.
An alternative is to grow from current values and form a wave (c) in the form of a 5-wave (pink arrows), followed by a fall.
As can be seen from the graph, the 2160 acts as a 0.618 fibo level. However, the end of wave 4 is quite possible and at the level of 0.786, since wave 3 has a stretching.
Draw a triangle in the wave . In the short-term, a fall to (d) is likely. After the completion of the figure it seems to me a drop to ~ 2160 points. On the graphs below I will show the older timeframes and why exactly there.
In the long run current as a wave motion I see (4), after which follow growth and overhigh with the end of the wave (5) of 3.
An alternative is to grow from current values and form a wave (c) in the form of a 5-wave (pink arrows), followed by a fall.
I expect the index to grow. The first target is the zone of 2870 pips.