S&P 500 - Headed for 2,081.85

S&P 500 is headed for 2,081.85 as the first possible upside target 

The rally of the 1,818.90 is clearly impulsive and we can already count five wave up from 1,818.90, but is the top in place? Not likely, when we have the first four waves in place, we can calculate the possible targets for the fifth wave. The first target to plot is where wave five will be equal in length to wave one and red wave (v) will be equal in length to red wave (i) at 2,131.42. 

The next two target to calculate is where wave five will be either 38.2% or 61.8% the distance traveled from the bottom of wave one to the top of wave three and add those two calculations to the bottom of wave four. In this case, that will give us the 38.2% target at 2,081.85 while the 61.8% target comes in at 2,130.73.

So the first target, that we should aim for is at 2,081.85, this could be the final top for red wave (v), but only time will show. If however we break clearly above the 2,081.85 target, then our focus should turn towards the 2,130.73 - 2,131.42 area as the next possible top for red wave (v).

At this point, only an unexpected break below support at 2,002.20 will indicate that the top of red wave (v) already is in place and shift the focus to the downside.  

Thomas
2014-08-11
Sublime Counts!
Thomas
2014-05-28
phenomenal new service EWS, I have followed you for 18 months and the exceptional analysis continues unabated! I look forward to the daily updates focusing on the most interesting and potentially lucr...
Hani
2014-06-06
I have been a fan of you blog for several years!
I am so impressed at your renewal.
Elliott wave analysis is so difficult to me, but so interesting and useful.

Thank you
Hani