SPX appears to be waiting for the final thrust in Wave [v] of an Ending Diagonal Wave 5. The target appears to be in the vicinity of 2281.00. Remember, 2285.92 is the maximum for Wave [5] in the SPX.

The DJIA has a similar pattern and may reach 20K. But it may be a pyrrhic victory, since it would be the end of the Wave (b).

The NDX appears to be capable of hitting 5000.00, but that also may be fleeting. It is currently challenging the upper trendline of its own Orthodox Broadening Top. Once the top is in, it may proceed with due haste to its Cycle Bottom at 4276.20.

VIX appears to be complete at this time. However, its early enough that we should still be on the lookout for an alternate pattern. If this pattern survives intact over the next two days, then we have the final low we are looking for at three degrees in the Cycles and 5 degrees in Elliot Wave analysis. As I mentioned earlier, the 12/21 low is about a week early at both 120.4 weeks and 120.4 months.

Regards,

Tony

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