Finish up wave 2 this week

We're in the impulsive C up of 2 up, a deceptive expanded flat (B made a new low at 2604 SPX).  The .618 retrace from the 2628 low can have us back at 2820 midweek, possibly as early as Tuesday.

This may sound ambitious, but we just showed that we can knock off 100 pts of S&P 500 very quickly.  Let's see if the Donald John Trump has a China trade deal to announce Sunday night, after the /ES futures open.

SPX 5 min - expanded flat wave

Big picture view is a crash to the über-long-term channel at 1360 this Spring.  If we break that channel, then the Fed has truly lost control and it's time to get scarce.

SPX daily - Springtime doom edition