Long Term Elliott’s Soup

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monthly chart by AdvancedGET desktop software

This chart is pointing to some interesting infos: first, the top at 4800, at the end of 2021, is not the final target of the current move, it actually is the top of a (3) wave; second, the incoming (4) may be expected to reach its target bottom around mid next year, in 3200/300 area; third, the following fifth wave has a minimal target in area 5100 (+50% from the bottom).

Usually, fourth waves love the blood smell, so it is not difficult to predict that when the S&P 500 will reach 3300 the panic will be widespread and pervasive.

The above content is quite in line with the long-term r.Virgeel outlook.