SPX - A test of the highs as a possibility

I contend that the move from 2009 to the recent highs is a long termed Wave 1. We are currently in a Wave 2 correction. Wave twos, in Elliott Wave Theory are often Zig Zag formation. Thus it's more than possible that the market can retest the highs for the B wave in the correction phase, followed by Wave C that slams markets back to the lows.

If this plays out, Wave 3 should be a doozy lasting for decades.

Or, if the Fed runs out of money, all bets are off. HaHa.