S&P 500 Elliott Wave Count – May 20, 2025
By request, here is my updated Elliott Wave count for the S&P 500
I believe we are still in a larger correction, but because the initial selloff was so sharp, we had a strong bounce first – however, I think ultimately a lower low is made as the larger degree (c) wave completes next
The trend began with a leading contracting diagonal, then a 1/2 before the largest portion of the third wave began.
The final sequence was an ending expanding diagonal consisting of five waves of abc. After the final wave v of 5, the correction began
The SPX is retesting the underside boundary to that ending expanding diagonal now
It can go as high as 6050 to touch the lower boundary of the uptrend channel before reversing
As long as a new ATH isn't made, this count is valid. Invalidation above ATH
