SPY Elliott Wave prediction for last day of 2018!

Daily Chart Elliott Wave Count: The retrace of the last trend move is 50% so this is a wave 4 , if it was a wave 3 then it should have only retrace 38% or there about. Since this is a 4th wave the next move must be reversal to form a triangle. The past 3 days formed a ABC 3 wave move and since reversed , so it is heading down lower.

 

The 5th wave bottomed on the 5 min chart at $232.61 and set  course of ABC to potentially form some sort of flat correction. The ABC move happened in a 2 day period with almost a 1000 point  in 2 consecutive move which prompted to make people think that this was the rebound and every one were euphoric about a bull market resumption. The $SPY has just finished a 50% retrace of the previous move in a typical ABC flat correction. The Friday price action was whip saw like in going back and forth. It had tested the resistance of $250 in pre market but had to come back and test that again in regular market there my shaking all the week hands on double top and dropping like a rock after that test. If this indeed is wave 3 of a larger downtrend then this can be counted as a 1-2

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