FX:SPX500 S&P 500 index of US listed shares
The latest run shall not go higher, as there is a strong Resistance. Don't forget that we are in a serious market. I expect a drop to1870 levels. The wave count seems to be completed as well to A point. Do not recommend any long entry at this point. For short entry wait for a convincing down thrust. Good Trades.
Comment: On track with the forecast so far. Wait until PointB. (shown on the chart) to give a chance for a long Entry.
Comment: I can not explain yesterdays strong surge, unless the ABC I was predicting is not what it is and there is a 3rd wave up in the making. Still I have doubts for that unless there is a very strong piercing up current level and Resistance.
Comment: A retrace back to 1940 could be a good level to try entering Long. A strong reversal at this point would mean weakness and would command caution,on contrary a gradual retrace back to 1940 is what we need in order to consider a long position.