S&P 500 - Wave iv of I is close to its top

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Wave iv of I is close to its top. It should find a top in the area between 1,066.77 to 1,067.42, but more importantly at no point should the ongoing rally break above 1,074.37 as wave iv then will enter wave i, which is not allowed under the Elliott wave priciple. If 1,074.37 is broken an altenate wave count of a series of wave one's and two's becomes the prefered count.
But for now expect a top near 1,067.42 for a decline 1,042.08 closer to 1,020.22 to finish wave I down.
Wave iv could of cause be a more complex corrective wave as wave ii was a simple zig-zag wave iv should be more complex due to alternation like a flat or a triangle