Metsin, when I was in Elliott wave class they taught us that wave 5 and wave 1 are often equal. So to see how far wave 5 will go measure wave 1 and add it to the wave 4 bottom.
On SPX I get wave 1 = 107 points. So, wave 5 = 961 + 107 = 1068
There it is, SPX target = 1068. That should take care of the shorts. Then we can start shorting knowing the last 5 shorts have capitulated. Good plan?
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