S WAVE CHARTS

[snootmagruder]

SPX 1 hr: the way I have this pattern is we're in the blue fork wave now and as it recently had a tag of the lower tine and also previously at the top it's a precise fit. As the top the black fork comes into play we will have finished the blue fork and we'll drop to the bottom of the black fork or at least a .618 fib. I think it should go the entire path however as we need it to drop the RSI 14 on the monthly chart to show some -D on the ensuing return up for the last high. The black fork is subject to adjustment and is now placed at a "good looking" position. When the blue fork is done the exact black fork position can be made.