The S&P 500 appears to be closing in on its final multi year top, monthly pivot -2
Looking from the 07 high we see a clear 5 wave count to the 09 bottom.
The detail of the final weekly pivot 4 to 5 (monthly -2) is shown below.
The orange circle shows the expected final top. This is estimated by the W123 fork SP to W4, which often gives pivot 5 turning points.
If this is correct monthly pivot -3 will take us below the 09 bottom of 668 over the next year or 2, in multiple waves.