February 2020 vs December 2020
I believe that SP500 is possibly on the brink of a downfall. Right now. If you compare the wave structure in February and November-December, you can find too many similarities in waves on various time frames, in Fibonacci proportions, in technical indicators, and even in the structure of supposedly the first wave down.
All this leads to the main question. Have SP500 (and other indices) completed a diagonal and are about to start a quick journey back to the origin of the diagonal?
I have two alternative counts for a possible diagonal. If it was a blue count, I would expect a return to 3500 by New Year or earlier. If it was a red one, SP500 could fall to 3225 in the same time frame.
We will see in several days.