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UnknownUnicorn5158708

SPX500: Further Upside Expected - RSI Shows Strong Bull Momentum

Long
S&P 500 Index (TVC:SPX)  
UnknownUnicorn5158708  
TVC:SPX   S&P 500 Index
Wave Analysis Elliott Wave elliotwaveanalysis S&P 500 (SPX500) spx500analysis spx500forecast spx500long elliotwaveprojection elliottwaveforecasts
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waveanalysis elliottwaves elliotwaveanalysis spx500 spx500analysis spx500forecast spx500long elliotwaveprojection elliottwaveforecasts
Hi Traders,

I was initially expecting price to form an ending diagonal, thereby slowing down the bull trend for downside. However the ending diagonal is now invalid because price has slightly broken out of the structure in the past week. What's more is that we have no divergence on the RSI, and this indicates further upside.

Therefore, we can keep buying the pullbacks until price shows signs of slowing down.


Regards,
Wave Theorist
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