FX:SPX500 S&P 500 index of US listed shares
SPX sitll in momentum. I am really happy to see the break in SPX upside because the Elliotwave strategy telling that the fall we experienced in early this year was normal in primary wave 4. The entire world was expecting a huge drop on that occasion and the sentiment was highly :(. Till this date the sentiment on this pair has not changed. This is an example of smart money who always move the market against the crowed. Crowed is not satisfied with the breakout and they continue selling until buyers get their trophy.