Hello,
Welcome to this analysis about SPX, we are looking at the 4-hour timeframe perspectives. The S&P 500 Index in recent times is forming some interesting structures that can convert into a great breakout with increased volatility as I detected. When looking at my chart now we can watch there how the Index marked above the paramount support level of 4375 marked in my chart in blue, also corresponding with this support level are the 25-EMA in red and the 15-EMA in green building a coherent and solid support base together with the horizontal support. Furthermore, the Index above this level here is building a great bull-flag-formation that is already in the last stages of completion as the wave-count within already finalized the waves A and B in the structure and now with the wave C bouncing in the lower boundary and the main support base it is the likely source of the completion of this whole formation. The bull-flag will finally confirm and activate targets once the Index is marked above the upper boundary, such a movement will indicate further continuations to the upside and activation of the target zone within the 4550 level marked in my chart in black. Once this level is reached it has to be elevated if the Index manages to continue further bullishly or firstly reverses to come up with a pullback which is also not unlikely in this case, it will be an interesting and important development ahead.
In this manner, thank you for watching my update-analysis about the S&P 500 Index and the main bull-flag-formation with the upcoming breakout to consider, support the analysis with a like and follow or comment for more market insight!
Information provided is only educational and should not be used to take action in the market.
Welcome to this analysis about SPX, we are looking at the 4-hour timeframe perspectives. The S&P 500 Index in recent times is forming some interesting structures that can convert into a great breakout with increased volatility as I detected. When looking at my chart now we can watch there how the Index marked above the paramount support level of 4375 marked in my chart in blue, also corresponding with this support level are the 25-EMA in red and the 15-EMA in green building a coherent and solid support base together with the horizontal support. Furthermore, the Index above this level here is building a great bull-flag-formation that is already in the last stages of completion as the wave-count within already finalized the waves A and B in the structure and now with the wave C bouncing in the lower boundary and the main support base it is the likely source of the completion of this whole formation. The bull-flag will finally confirm and activate targets once the Index is marked above the upper boundary, such a movement will indicate further continuations to the upside and activation of the target zone within the 4550 level marked in my chart in black. Once this level is reached it has to be elevated if the Index manages to continue further bullishly or firstly reverses to come up with a pullback which is also not unlikely in this case, it will be an interesting and important development ahead.
In this manner, thank you for watching my update-analysis about the S&P 500 Index and the main bull-flag-formation with the upcoming breakout to consider, support the analysis with a like and follow or comment for more market insight!
Information provided is only educational and should not be used to take action in the market.
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The SPX after finalizing the whole flag formation reached all of the target zones within the schedule.