Can we watch the S&P 500 Index finally move up in September?
Minute wave 4 should be over, but confirmation is still forthcoming. The blue circle in the middle of the chart will be the key determining factor. Minute wave 4 has thus far been in a tight trend channel. Minute wave 5 would be active if the line of resistance (red line) is broken through.
Once this occurs, the top could be between 2928.92 - 2963.80. Based on derivative analysis of the current waves, minute wave 5 could end as early as 11:35 EST on September 12 and as late as 13:25 on September 13. This is still a short window for this wave to complete itself so be prepared for large moves.
Quick movement in a short period of time could revolve around imposition or delay of tariffs against China, positive jobs data on Friday, or another unforeseen piece of news.
Continue to check back for more ideas and updates
Once this occurs, the top could be between 2928.92 - 2963.80. Based on derivative analysis of the current waves, minute wave 5 could end as early as 11:35 EST on September 12 and as late as 13:25 on September 13. This is still a short window for this wave to complete itself so be prepared for large moves.
Quick movement in a short period of time could revolve around imposition or delay of tariffs against China, positive jobs data on Friday, or another unforeseen piece of news.
Continue to check back for more ideas and updates
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
