SPX500: Another drop is ahead.

SP:SPX   Indeks S&P 500
I called for the temporary strength in wave (B) in my earlier post (see related idea).
It looks like we are completing it and another drop down is just ahead.
Signs of wave B soonest finish are: wave C in wave (B) already reached the 1.618 of wave A.
Wave (B) has almost reached the 61.8% of wave (A).
The second drop could be even faster as it will be wave (C).
The minimum target is set around 2470 where wave (C) = wave (A)
Komen: Another confirmation from the Japanese candlesticks

the reversal candle "Shooting Star" was on Friday on the daily chart.
The break and close below 2727 (candle's body) would confirm the pattern.
Komen: Index is coming back. As long as we are below 2754.42 the labeling is intact.
Komen: If the 2754.42 is broken then it could be wave 5 in wave C of (B)
Komen: 5th wave already reached all regular targets as well as wave c of C of (B)
I added extra levels beyond 61.8% of wave 1-3 to the chart between 2770 and 2815
These levels amazingly coincide with the Wave (B) regular retracement area (blue rectangle).
RSI shows Bearish Divergence
For the confirmation the index should first break the support trendline around 2735 and then the threshold of wave 5 below 2697
Komen: SPX stalled at the 78.6% of 1-3 of c of B
Trendline support was broken down
Minimum target where C=A was recalculated to 2515
The confirmation for the drop is below 2697
I think we are in wave 4 of A and another small drop will be followed by wave B correction and then another drop to finish big wave (C)
Komen: interim correction started earlier
Komen: Zoom into structure
Komen: my thoughts back to the first idea at the

no more updates under this idea
Thanks Buddy.
Love Ya posts. Following closely. Thanks a mil.
aibek Shiloh777
@Shiloh777, thank you!
@aibek, You are welcome.
I agree with your idea. We have some crazy setup here. This is how I counted the waves:

aibek thewhitefox
@thewhitefox, thank you for sharing, looks good! Let’s see how it goes.
@aibek, Besides, what is your initial target for the end of Wave C?
aibek thewhitefox
@thewhitefox, hi there, in my earlier post with a big map at I set the target between 50% (2433) and 61.8% (2329) Fibonacci retracement levels.
@aibek, Well, that is very nice. I have also counted the bottom of Wave C in this range - it was 2380 in my case. I used other methods, but it is nice to see that two of our analyses converge. Good job with that analysis - I also think that we should have wave 5 ahead of us. And considering the sharpness of Wave 4 correction, we probably can eliminate triangle and sideways correction.

It's nice to find that somebody else got exacly same conclusions as you did, but using different approach. :)
aibek thewhitefox
@thewhitefox, yeah, I call it magic of math/geometry on the market ))) although I was bad in those subjects at school. I also spotted interesting candlestick so watch update. Best of luck to you!
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