S&P 500 Wave Count - End of Wave 3?
Updated
Waves based on fib levels. I am assuming that we are in a Wave 3 showing an impulse with extension. Could push from 1.618 to the 1.7 level to end wave 3. I hope that we will see a correction for wave 4, but wave 4's are usually less then 38.2%. If so then we still have a solid wave 5 to go. Guessing at a standard 2.0 extension to wave 5. I also see a clear channel that if you center the mid-line it nicely aligns with the 2.0 fib level.
Waves are more art than science, so take it with a grain of salt.
Major fib and waves
Close up
Waves are more art than science, so take it with a grain of salt.
Major fib and waves
Close up
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