Lot's of moves up and down intraday yesterday to go nowhere. But I think we have topped now and we should start down into next week to start the wave 1 inside of the C wave, which means we topped this past Friday, May 2nd for the B wave rally from the 4/7 low (the bottom and end of the A wave). I've changed the wave count a little as I don't think we have bottomed yet and will make a lower low into mid-June, which should be the end of the C wave down.
It should unfold in 5 waves and the move down into mid-late next week should be the wave 1 inside the C. Then we go back up into late May for the wave 2, and finally we drop in the wave 3, 4, and 5 into mid-June where we should reach at least 4600 I think, maybe a little more? That entire move from the all time high will complete a larger ABC down, inside an even larger wave 4, which leaves a 5 wave rally up for the final wave 5 into August probably. That should be where we hit the big upside FP on the SPY of 655.66. I suspect that the 586.86 FP will be hit on the first move up from the June low. Just a guess there, so don't hold me to it.
Have an blessed day.
