to ideally $4270+/-10, respectively. The latter target zone is also where green W-c equals the length of green W-a, measured from the green W-b high. A typical c=a relationship. Moreover, it is also where the 76.40% extension of red W-i resides .”the market’s waves decided to extend. … orange W-4 to around $4370+/10, followed by an orange W-5 down to ideally $4280+/-10, etc.
However, if the index drops below last week’s low, we must shift our focus. Namely below the previous week’s low, and especially $4165, will bring the current alternate EWP count, green W-4, 5 of red W-iii of black W-1 of blue W-C, back to the forefront. See Figure 2 below.Why? That strongly indicates that the blue W-B topped this summer at $4607. The W-C will bring the S&P500 to around the mid-$2000s. See the green, red, and black dotted path in Figure 2 above.
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