The S&P 500 has begun minute wave C of minor wave X. Minor wave X should take prices down to at least 4003, possibly lower. After minor wave X completes, prices should continue higher during minor wave Y.
Theoretically, the preferred target for wave 2 after a leading diagonal in wave 1 is the 0.786 Fibonacci level. This means that minor wave Y should take prices up to about the 4565 level.
Theoretically, the preferred target for wave 2 after a leading diagonal in wave 1 is the 0.786 Fibonacci level. This means that minor wave Y should take prices up to about the 4565 level.
