Replies to post #9788 on S WAVE CHARTS

[snootmagruder]

Hi Northam, I hope you're doing well and thanks for your comments.
We'll see soon enough, my work says this drop needs to finish by late April. One of my S wave rules is riding on this. The triple shown as the dotted pink line in the MID chart (this also occurred in COMPQ, NDX and DJW) needs to be taken out before the pattern is completed, which translates to the 2346 wasn't the bottom.
http://c.stockcharts.com/c-sc/sc?s=%24MID&p=60&st=2018-01-01&en=2019-04-26&i=p64988323499&a=315319326&r=1553275693841&r=1553276539175

[northam43]

Update of long range view:

I have updated my chart a bit to make it easier to read.

We did get the ATH in July that I forecasted and many more since then.

The SPX 3400 level wasn't reached as I projected, but I expect the SPX will get there early next year and much higher.

A SPX Monthly M-E-2 (Monthly Extended Up Phase) is expected to be confirmed at the close of this month with a projected high of 3986.47, the projected high will be due 12/31/2020

Between now and the end of 2020, there will likely be 3 Weekly cycles, which will have 3 corrective (Bear) phases. The 3 Weekly corrective phases next year will likely be a W-S-1 (Weekly short down phase) that could be a 90 to 150 pt drop, a W-1 (Weekly average down phase) that could be a 100 to 250 pt drop, and a W-E-1 (Weekly extended down phase) that could be a 250 to 500 pt drop. Being in a strong Bull Market, the drops will likely be on the low end. There will also be 3 Weekly Bull phases including the one that is currently in progress which is likely to continue into March with a projected high of 3442.31, then around March/April I'm looking at the possibility of the 1st Weekly Bear phase which will likely be a W-S-1, with about a 100 pt drop to around 3340, then around end of April or 1st part of May back up 100 pts in a Weekly Bull Phase (W-S-2) to around 3440, then around middle to end of May drop about 150 pts to around 3290, then in June back up 100 pts to around 3390 in another Weekly Bull Phase (Another W-S-2), then during the July/August/September period drop about 300 pts to around 3090 (which could be the 2020 low) in a Weekly Bear Phase (W-E-1), then in October up about 200 pts in a Weekly Bull Phase (W-2) to around 3290, then around end of November (the start of the 3rd weekly cycle) down 100 pts in a Weekly Bear Phase (W-S-1) to around 3190, then at beginning of December start a Weekly Bull Phase (W-E-2) that probably won't be confirmed until January 2021 taking the SPX up about 500 pts to 3690, so the 2020 high could be around 3400 & the 2021 high could be around 4000.

Based on the above scenario the SPX Monthly M-E-2 projected high of 3986.47, might not be reached. The above scenario is based on Weekly cycle averages and expected phase types, that i believe are the most likely, as phases are confirmed the above scenario will change.