S&P- Beware - it looks very toppish - Ready for a 60% downside?
S&P is in a very mature phase.
We are in wave 5 of 5.
Tough to call the top but we seem to face a ending diagonal in wave 5 (daily chart)
Wave 1 to 4 are completed.
A last rise forming wave 5 to 2250 should be expected.
Once complete, we will enter a big & ugly bear market as full Elliott sequence of 5 wave will be complete.
Market correction will bring us to previous wave 4 of lesser degree with a 0.618 Fibo retracement at 900.
We are in wave 5 of 5.
Tough to call the top but we seem to face a ending diagonal in wave 5 (daily chart)
Wave 1 to 4 are completed.
A last rise forming wave 5 to 2250 should be expected.
Once complete, we will enter a big & ugly bear market as full Elliott sequence of 5 wave will be complete.
Market correction will bring us to previous wave 4 of lesser degree with a 0.618 Fibo retracement at 900.