SPX continues in the 3rd wave higher. Potential target: $7,000 using Fibonacci extension and round number resistance. Wave ...

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Wave B red correction looks to be unfolding as Elliott Wave Zig Zag pattern. First leg ( (a)) of B is counted as 5 waves, which means C leg should also have a form of 5 waves pattern.

The picture below presents what Elliott Wave Double Three pattern looks like. It has (W), (X), (Y) labeling and 3,3,3 inner structure, which means all of these 3 legs are corrective sequences.

From my experience, the up and down patterns formed by the price movements of the market, called Elliott Waves, are unpredictable in themselves. Click to read.