Most of the time does not mean all of the time, as on occasion the less clear wave count turns out to be the correct count.
On the surface the pattern from the SPX top on 12/13/16 is choppy with a lot of overlapping waves - the signature of a corrective pattern. Detailed analysis of the move from 12/13/16 reveals a wave count. The one minute SPX chart shows the details of the count. *Note - Tradingview doesn't allow publishing of charts less than 15 minutes in scale.
Applying rules,the count illustrated is a valid interpretation of the SPX pattern from the 12/13/16 top. This, combined with the longer term evidence I've recently posted about the SPX leads me to believe a very important SPX peak was probably made at 2277.50 on 12/13/16.
If the count is correct 12/19/16 will probably have a rally into the illustrated target zone.
As noted in a prior post the SPX is above 2285.92 use 2285.93 as a shorting stop loss.
Excellent illumination, excellent well written and illustrated article.
If their is the rally you project coming up in the S+P, divergences may be seen all over the place, and a genuine
shorting opportunity could present itself.
COMPLACENCY still abounds, and would only build on the rally you see coming.