Bounce near completion - Clear 5 waves up to 618/786 zone

Updated
Since we are getting a clear 5 wave move higher on the daily. I am not longer of the view that we will see a complete C wave down from here in a larger downside move to near 1700. I believe we will see a W2 down toward the 618 before resuming higher in a W3 push to the old highs or beyond. I think this entire move down on the monthly chart is like a W4 of a larger super cycle and we could be in W5 up before a potentially much larger decline in a year or so...
Comment
To be clear... I could see the failure coming in one of the two red boxes... However with earnings this week it could come after hours at anytime if we get it.
Chart PatternsHarmonic PatternsS&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Wave Analysis

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