Probable significant correction of S&P500 or financial crisis

So, It is too hard say exactly whether index just in 1 wave of 5 wave of bigger order and , as a consequence, everything ,what we should await, is just correction presenting the second wave of 5 wave of bigger order or the further correction will mean the end of bull market and the beginning of new bear phase of market and entrance into new global financial crisis, since all financial and economical problems have not been eliminated and the current increase of American financial market is based on just FED monetary policy and US. GOV. transfers to population.