SP500 to 4100+ after a year of sideways movement

Although my 2019/2020 target of 3200 was met, I do not like any impulsive interpretations of the rally in 2019. Therefore, I believe we are still in a major correction that started in 2018. According to the way the structure is playing out, my bet for 2020 is sideways movement through that large triangle that will eventually give way to a 5th wave rally to 4100+.

Of course, it is possible that we have perhaps completed the bull market and are starting a new bear market. However, the weight of the evidence at this point suggests the probability that we have started a new bear market is very low.