SPY / SPX for next few months / years

Summer doldrums are here.

We seem to be getting into Wave 5 of Wave 5 of Wave 5 (Primary, Intermediate, Minor). My guess is that 5 of 5 of 5 are usually truncated, market stalls for a while till EMA 13 crosses under 34 and then races to either wave 4 bottom of same degree (last year bottom) or in case of previous extended impulse wave (which we had), it can dive down to wave 4 (sub-degree) of wave 3 of this degree.

I am uncertain if we are looking at a Cycle / Super Cycle wave 1 or wave 5. I read a lot of Guru's stating Super Cycle Wave 5, I believe it to be a Super Cycle wave 1 which explains why most investment banks are holding off major IPOs.