The strong rise in SPX since DEC to reach the previous high of 2940 violates previous ideas and leaves the door open
to a new high in the near future.
Taking a longer look back this monthly chart has the 2018 high as wave III and the current impulse wave as the final cycle
wave V. Wave III = 2.618 wave I and is extended resulting in the possibility of wave V = wave I and a final wave V high
of 3054.
Note the strong divergences in RSI & Momentum as SPX approaches this cycle end!
Good Luck
to a new high in the near future.
Taking a longer look back this monthly chart has the 2018 high as wave III and the current impulse wave as the final cycle
wave V. Wave III = 2.618 wave I and is extended resulting in the possibility of wave V = wave I and a final wave V high
of 3054.
Note the strong divergences in RSI & Momentum as SPX approaches this cycle end!
Good Luck