SPY Update

This chart looks identical to SPX for obvious reasons. I'm using SPX chart to start this count as it has far more data. At this time, I am predicting an ED for this SS III end. I feel soon we will get a drop in price for the b wave of 5 before raising in its wave c for our last high before price spends DECADES in a corrective structure dropping to sub $200. The Jan 5 low could be that b wave low I am referencing potentially but I doubt it. Regardless of what path price takes, I believe we will make it into my target box before embarking on the long drop. As always, I have an ALT count suggesting SS (III) is already done, and this was all part of the B-wave of the first sub-division of SS (IV). If we do get the decent drop for b of 5 I'm calling for, I don't think it'll go lower than the 1.0 extension @ $442.55, but there are NO rules stating price can't drop all the way to the 0.786 retracement fib @ $423.17 though. Once we get some more price action, I will be able to determine targets better. If we drop below the 0.618 @ $415.57 then the top is most likely already in. If that is the case, we will be headed much much lower.

Friendly Reminder: Beginning March 1st (~7 weeks), I will be dramatically changing my posting schedule here on trading view.