Long Term S&P 500 Elliott Wave Count
The S&P 500 (SPX) could be near or may have completed five primary waves up from the March 2009 bottom. If so the SPX could be on the verge of a multi-year bear market.
The presumed Primary wave [1] lasted from March 2009 to February 2020, the gain was 408.93%. Multiplying 408.93 by the Fibonacci .382 ratio equals 156.21% added to the Primary wave [2} bottom at 2,191.81 targets 5,615.63.
The recent high on 07/12/24 was at 5,655.56 just beyond the bullseye target.
The Primary wave [5] top could already be in place.
The presumed Primary wave [1] lasted from March 2009 to February 2020, the gain was 408.93%. Multiplying 408.93 by the Fibonacci .382 ratio equals 156.21% added to the Primary wave [2} bottom at 2,191.81 targets 5,615.63.
The recent high on 07/12/24 was at 5,655.56 just beyond the bullseye target.
The Primary wave [5] top could already be in place.
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