I was just looking at a chart of the S&P 500 and the Elliott Wave jumped out at me. When we hit 1461 and began the downward correction to 1363, my thinking is that is the A wave. Then the trip up is the B wave. The C wave by theory should then be (1461-1363)X1.618= 158 1438-158= 1280 target price. Am I simply paranoid that our next wave will be C with a target price on the S&P500 of 1280? I did a quick fib retracement that demonstrates this would be fundamentally correct. Tell me your thoughts.