SPX 500 Hourly Chart

Here are a few possible scenarios for the SPX. Normally a wave 2 retraces around 61.8% of a wave 1, and so far the retracement has been quite shallow, so it is possible that another A-B-C is coming. The SPX does have a high correlation to the EUR/USD however, and I do now expect too much more upside from the Euro before furhter downside, so the scenario in which the correction is complete is my favoured one.