SPI200 end of the line?

Hi Traders,

The SPI200 (now at 2428) seems to be at the end of the line.

TARGETS

likely: 5345-5323
possibly: 3278-3267
maybe: 3221

ELLIOTT WAVES

The weekly chart displays the a-b-c (or the a-b-c-d-e) in the making. Wave c downwards should end around 4925 or 4847.

The daily chart reveals that wave b is finished. Wave c downwards should be in the making already.

The 1-hour chart displays 9 waves up, marking the end of wave 3 up as expected.

NOTE: I honestly thought that it would have gone all the way up to the area 5494-5507 (theoretical target) before reversing.

Weekly chart - click to enlarge

Daily chart - click to enlarge

4-hour chart - click to enlarge

Wave oscillator - 4-hour chart - click to enlarge

1-hour chart - click to enlarge