SPX 1510 is a very real possibility!

Nine years in, and SPX has rallied 258% (total return much higher with divs) off the ominous 666 level (666.79, to be exact) that was the low point during the financial crisis. As the Elliott waves suggest, we could be in for a steep decline to test the double-top-breakout level at 1510, which using recent all-time highs, coincides with the 61.8% retracement of this current bull market. In other words, we may see 1510 before we see the recent highs at 2387 again! To be fair, this would take months or years to come to fruition, but the setup suggests we may have seen the end of the bull market. Fear not, because a pullback to that 1510 level would be constructive long, long term. It would just not be ideal to ride the market down for a 50% haircut along the way!