How High Could This Market Go ?
Many investors and traders are wondering if we are at a market top or how high the market could go … Elliot Wave Theory may give a clue !
Wave theory states markets move in waves of 5 up with 3 waves of correction. It looks like we are curently in wave 5 of this advance.
Below are the updated wave charts and corresponding wave counts with min and max projections for the indexes .
Minimum wave three targets have been met.
If these wave counts hold up the markets may have more room to the upside.
Wave counts were taken from the November low of last year.
Note: In the S&P 500 chart below the wave 3 minimum is 1554
If a trader is bullish they can use the wave numbers to buy SPY calls out to April, May or June to take advantage of the market rise.
Good Luck and Great Trading Ahead!
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