FX:SPX500 S&P 500 index of US listed shares
Wave (2) is an expanding triangle. Wave (2) is completed. My guess is not confirmed. I am pleasantly surprised. The structure of the expanding triangle is visible clearly. The market is moving up. I think, the next probable level of resistance is the value of 2030 points . But no need to hurry. The structure of wave (3)will tell us the time of its completion. Market forms a narrow channel. In an expanding triangle, the market has lost some of the energy. Therefore, wave (3) will be less than wave (1).The values of wave (1) and (3) must be related by Fibonacci. The nearest unfulfilled level in its value is 0,764, ie 2027,75 points on the contract ESH2016. At this level, the market will face a resistance line.