Major SPX Top Forecast at 3050 in May 2018 - Part Three of Four

A common relationship within an Elliott five wave pattern is that wave "one" is equal to wave "five"

Minor wave 1 up from the SPX bottom at 1810.10 was followed by a Combination wave 2 that exceeded the orthodox peak
of wave 1. In this case the measurement is made from the actual peak at SPX 2120.55.
The growth rate from SPX 1810.10 to 2120.55 is 17.10%

When there is a wave "four" Horizontal Triangle the projection of the wave "five" termination point begins at
the end of the Horizontal Triangle. Not the low point of the triangle, which in this case is SPX 2532.

Adding a growth rate of 17.10% to the end of the nine wave Horizontal Triangle at 2604.43 targets SPX 3049.78.
This is almost an exact hit of the longer term main Fibonacci coordinate of 3047.33!!!

A cluster of Fibonacci coordinates in the SPX 3032 to 3079 area implies a powerful resistance area.
It would take a lot of power to break above this resistance.

If this wave count is correct then the SPX has just begun a post trinagle thrust up for Minor wave 5.
This implies a strong and steady rally into May 2018.

Mark