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SPX Grand Super Cycle- Possible Target $ 6000 to 7000 for TVC:SPX by RNB98

There is no denial for a short-term pullback in the market, which will be healthy for the market.

Also lots of speculation/leverage in the current market

So the market maker may shake out the weak hands soon.

If we see SPX in the quarterly chart Wave 1 started in 1976 and ended in 2000 which was around 26 years.

Wave 2 was from 2001 to 2009. Total nine years for wave two corrections.

Wave 3 started in 2009 and correction in 2020 March was quick just two months correction (Most probable it should not be wave 4 correction). This can be a nest (each wave is built of smaller waves and, at the same time, each wave is a part of a bigger wave) and wave II of a second nest.

In my opinion, there would be two probable scenarios, the first one is SPX is still in wave three and it will go to 6000/7000 in this decades.

As if we go with SPX Grand Super Cycle then- possible targets can be 4700 to 5000 or more before a major crash (Wave 4 correction multi-years) happen and after the wave 4 correction wave 5 targets can be 6000 to 7000 or more

The second one is to complete wave 5 around 4600 to 5300 and 60-80 % crash to 1500 – 2000

So just remember a sharp correction/crash wouldn’t be the end of the world, it will be an opportunity to invest for the long term

Trend-based fib extension support the first scenario.

This is just my view please share your views in the comment section.

Thank you

Disclaimer

This idea does not constitute financial advice. It is for educational purposes only,

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