Fibonacci Pinball At A Very Large Degree

Fib pinball at a very large degree:  As I've mentioned in my webinars, I'm counting from the 1932 low as the 0 point in SPX. This is in contrast to Garrett's very long term count in that I'm counting the 1929 high as a (b) wave and the 1932 low as the completion of the correction. 

Note from the 1932 low, 5 waves up to 1968 high for SuperCycle (I)...the a-b-c flat into the 1974 low for SuperCycle (II)...Here's where this gets interesting. We note in fib pinball that the standard target for 3 of (3) or in this case III of (III) is the 1.0-1.236 extension. The move from 1974 to 2000, clearly a III of (III) struck the 1.0 extension and topped literally 1 day later (Friday, March 24th) about 2.4% above. Then we have the clear 3 wave Primary A-B-C flat into the 2009 low for wave IV...Well, with a top of III of (III) at the 1.0 extension, what's our target for V of (III)? 

The 1.382 extension at 5170.

I suspect a major top is near.

SPX Quarterly
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Jason Appel is a financial markets veteran who hosts our Beginners Circle section for new members and covers digital currencies, agricultural commodities, and U.S. stocks and indices.