S&P 500 index has a beautiful textbook impulse as we saw yesterday in Nasdaq 100
Here wave 4 is still in progress as broad market takes its time
It shapes possible flat correction ABC
Wave A is done, wave B is in the making as it can still retest the all-time high of $7,621
Then another drop within wave C is anticipated to commence
It could touch the valley of wave A at $7,238 on the opposite side
After that, another rally within wave 5 is projected with minimum target at all-time high
of $7,621
Next preliminary target area is highlighted with the blue box between $7,735 and $8,040
representing 38.2-61.8% Fibonacci ratios of waves 1-3
It should be adjusted once the actual valley of wave 4 is established
Here wave 4 is still in progress as broad market takes its time
It shapes possible flat correction ABC
Wave A is done, wave B is in the making as it can still retest the all-time high of $7,621
Then another drop within wave C is anticipated to commence
It could touch the valley of wave A at $7,238 on the opposite side
After that, another rally within wave 5 is projected with minimum target at all-time high
of $7,621
Next preliminary target area is highlighted with the blue box between $7,735 and $8,040
representing 38.2-61.8% Fibonacci ratios of waves 1-3
It should be adjusted once the actual valley of wave 4 is established
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.