S&P500 - Oversimplified

This time we are looking at a different market, which i personally dislike to trade.
Neverthless counts the S&P to the most important markets in this world.
We will take a detailed look at the american Standard and Poor's 500 index. SPX500USD
We arent exaggerating if we say, that the corona crash was one of the hardest we ever witnessed in the past centuries.

I expect that the market is now in a ABC correction, which can bring us down to the 0.5 or 0.618 Retracement.
Right now we are witnessing Wave A, which will correct deeper for a few weeks. After this we should gain a few 100points and then start Wave C.
This will be a good opportunity for everyone to open up long term positions!

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If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact me.