3/7/2017: sp500 possible pull back target update

Since Sp500 hit 2400.98 last Wednesday, the pull back started to current 2368.39. The possible pull back target is discussed here based on the Elliott wave pattern.

• we are in primary wave 5 up(bottom up from 1810). wave 5-1 is from 1810.10 to 2120.55
• wave 5-2 is from 2120.55 to 1991.58. from 1991.58 up to now is wave 5-3. 
• wave 5-3 top out at 2400.98. we are under wave 5-4 (correction wave). Usually correction wave work as A-B-C. Current wave A is around 2340, B wave around 2380, C wave around 2320. (all these targets are hypothesis as reference) 

  http://schrts.co/Q1XmOK

In summary, the corrective wave is usually follow A-B-C pattern. However, the wave A itself may consist of A-B-C pattern, same for wave B and wave C.

The analysis is not for investment purpose, but for education and illustration.