Continuing a series.

While not qualitative enough for today's environment, my rough take on this model has generated very good results.

March 2016 projected 2250-2500 SPX top 2017 Q2 to 2018 Q2, when SPX was at 2050 - ding!
Late June 2016 said ""If all this is correct then we are about to get the last best move of the bull market over the next year or two" - ding!
January 2017 said: "According to this view, top callers are pre-mature here. Strength begets strength as Wall Street drools over tax cuts, stimulus, and money coming out of bonds. This is what euphoria looks like." - ding!
Early March said: "So, the issue here is even if we just saw a decent trading top, what is next is a wave 4 and this is more likely to be sideways and drawn out in time." So far correct on all USA main indexes excepting QQQ - sideways and drawn out in time correction.
Mid March said: "Take note: if model is correct, the remaining up portions of this bull market are limited to: w5/W3 on weekly SPX chart; W5 on weekly SPX chart; Finito."

Click on tag if you don't know the lingo.

Currently W5 on monthly (W5 began from 2/2016 lows, W1 from 2009 lows).

On a weekly chart, this W5 is ideally subdividing into 5. It goes like this:

W1 up
W2 down
W3 that subdivides
w1 / W3 (wave 1 subdivision of larger wave 3)
w2 / W3 pullback
w3 / W3 longest and strongest
w4 / W3 correction
w5 / W3 final fling of the strong W3
W4 down that matches W2 in some way, but can be more drawn out in time
W5 that final push up that ends the party!

Check this against the chart.

I think we just saw w5 / W3 and now we are in W4. If W4 matches W2 in points then target is 2275. As it turns out this is near Q2S1. That would be a nice buy if SPX set Q2P breaks.