S&P 500 Elliott Wave Count Update
(Re-examined — yesterday’s night post was rushed)
No change to the downward impulse scenario starting from the 2/11 high.
Wave 2 is currently in progress as a flat correction (a-b-c).
The move from the 3/23 low is viewed as a flat a-b-c structure. The b-wave low is around 6,350 (or extremely close). Therefore, the c-wave (upward) is expected to begin immediately next week.
Upward/sideways action inside the flat is likely to continue until around April 6–7, after which impulse wave 3 decline should start.
This week’s bias & position
Bullish ⤴️
c-wave targets
① 6,648.60 (Fib 0.382 retracement)
② 6,694.46 (end of flat a-wave)
Higher levels are possible, but these are my primary targets for now.
Invalidation
Break above 6,971.54 → the larger decline is considered over for the time being.
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