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.

Last week, spx did orange subwave 5, and it was a week long because it was an extended one (who knew?). So far, it is equal to orange subwave 3, so it can head down anytime. And of course, if it wants, it can go even higher, without invalidating Elliott waves theory.

However, the important part is that when orange subwave 5 is done, it will also complete the red wave 3, and then it should correct at least 100-150 points as red wave 4, probably in the shape of an ABC down.