TradingWithTheTrend

S&P500 could make new highs again

Long
SPCFD:SPX   S&P 500 Index
I previously posted a bear case for S&P 500 , though it seems to be playing out well, I am more convinced that we have another wave to complete before we go completely bear. See related links for previous S&P 500 forecasts.

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Comments

I agree with you here. If the bottom from last week holds in ((4)) of I, we will see a rise. It is also possible that we are in ABC from ((3)), where we would currently be in ((B)). I am currently bullish and agree with your analysis here over the bear analysis. $SPY, $AMZN, $MSFT, $SPX, $NET, etc. saw an RSI extreme on the 4HR chart (but not the 1HR chart). Also, $SPY got low enough on a fib retracement (.382) for a wave ((4)) to be considered complete.
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