S&P 500

My working presumption is that the S&P 500 is in wave 5 down and the 5th wave is not complete. Reason being that wave 5 is very small compared to the 1st to impulsive declines. Even if 5=1 then we get to 2080. Timewise wave 1 took 7 days and we are only down for 2 days so far. So it is worth waiting to see how wave 5 times out before calling it done. The real risk is that the 5th wave actually extends.