SPX Long-Term Chart
My long-term Elliott Wave view of SPX. I have two counts: red and yellow. They are functionally both the same for the intermediate term. I'm looking for a continued rally to around 4100, followed by a precipitous drop to new lows. The drop is where we'll likely see the VIX spike (chart looks like it's about to break out) and final capitulation. There are countless fundamental reasons to support what the charts are showing.
I do not have downside targets yet. The counts down to new lows are just placeholders for now.
I do not have downside targets yet. The counts down to new lows are just placeholders for now.
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