@maxi48 ... Hi Maxi_a_million ... I'm finding the SPX is telling a lot of FIBs, especially of late, ... a bit like the Yankie FEDs, right! My concern is what FIB's are the true ones. Of course the answer to that is "blowin' in the(future)wind" sometime down the track.
However, I put the following FIB's to Yah ... I think we both agree that the [ABC] I have shown is an ABC ... Now you have suggested(to Martis in particular) to 'focus' on the FIB taken from the 2020.86H _ 1871.91L(pts. & [C] on my chart) and extend forward to get 2180(I actually make it coming in at 2170 ... see cyan range on chart ... however, that means nicks) BUT I'm thinking maybe the 2116.48H could have been the 1st swing high you are looking for. WHY? Well because that was a purrrrfect 100% KISS ME BABY of the [ABC] range just as you were alluding to for your range projection to get 2180/70. In addition, to back the probabilities up of the 2116.48H being of more importance, I refer you (and others) to your MAGIC STICK line(I call them "Decision Lines" but now might be a convert... LOL). You last mentioned it a few day's ago as that indeed seems to be a good "vibration" to play with. Take a // to it going forward from the 2116.48H and note that is picked up the double top this week perfectly(small yellow arrow). AND, there is more! Take another // of your Magic Stick off the low before the 2132.82H... (your start point for your Magic Stick) and project forward and note the perfect KISSIE with the 1993.48H(our 1st Impulse wave high out from the 1867.01L). AND, yet again, another // ... a 100% projection of the 2044.02L - 2132.82H range ... and see how that line "stopped" the late Nov. early Dec. rally( at the 2nd Dec. H ... small purple arrow after 2116.48H) to form what we were thinking to be a minor 'b'_wave rally high(this could still be the case).
So, where to from here ... I'm focusing on what happens around initially the 1993.48H level and, if that goes, then your Magic Stick line again. If support is found and "value/demand"(vols) seen just above then happy to pick up the S/T Bull stick once again. However, if "value/supply" is seen to come in on a break of the latter, especially after a quick back-test, then I'd be looking for a run down to initially the 1922 level(100% extn. of our 1st minor wave down from the 2116.48H ...red range) with the likelihood of the two lower // purple lines if that goes.
Moves down into this territory STILL doesn't destroy a M/T Bullish outlook BUT it does concern me that such levels revisited again means we are well below our 6yr uptrend support...with the added pressure of this current leg being AFTER a back_test of that initial trendline break.
(20min delay)