SPX Elliott Waves (SP500)

[gratitude]

Current Elliott Waves - From 2855.94, it started red wave 3, and so far it finished black waves i, ii, iii and iv, and now it is doing black wave v. In my opinion, spx finished already blue subwaves 1, 2, 3 and 4 and it is doing now blue subwave 5. Out of blue subwave 5, it finished orange subwaves 1, 2, 3 and 4 so far, in my opinion.

So, probably by now you are confused with so many waves and subwaves, and you are wondering what it means and what's next. Well, look at the chart below - if my count is right, all spx has to do is one more small run up to finish orange subwave 5 (unless some ugly weekend news take it down directly), which will also complete the red wave 3, and then it should correct at least 100 points. I expect spx to finish orange subwave 5 in a day or so. From there, I expect a sizeable drop (at least 100 points on spx) as red wave 4, probably in the shape of an ABC down.