S&P500 on 5th wave completion - 6th Oct

 US500 Wave :

As discussed,US30,S&P500 Elliott wave Analysis - 5th Oct

We can see after five impulse wave ABC correction is going to unfold.

Sub waves of (B) wave as abc and the c wave is Fibonacci extension 161.8% of a wave and another confirmation (B) wave if Fibonacci retracement 78.6% of (A) wave.

So we confirmed as (B) wave completed @ 3378 and (C) wave progression is started.

As we have seen S&P500 crossed the 3297 and we have to re-labelled as below.


S&P500 Elliott Wave


on the higher timeframe, 1st Subwave of 5th wave is under progress.

As shown on the chart, sub-minute wave (5th) of the 5th may end near 

3414 to 3446 and we may see a correction of the entire five impulses. If 5th wave extended wave then we may see higher level 3446/3478.

After completion of the entire Five waves, correction target is preceding IV wave starting around 3300.



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