In my last update posted on December 16 I expected a move down to a lower low and provided two downside targets.
Please see the green boxes on the chart below. SPY has overshoot the lowest one and has enough waves in place to call the move down a complete.
Below you can see this chart looks this moment.
Fro here we can start a corrective move up in wave ( B ) that could retrace from 23.6% to 76.4% % off the decline off the September 2018 top. That corrective move up should be structured as A-B-C and once waves A up and B down get completed we will be able to predict potential completion points of the final wave C of ( B ) up.