weeno310

UPDATE: S&P500 4H MONTHLY OUTLOOK

OANDA:SPX500USD   S&P 500 Index
Just some updates to my idea from a few days ago.. the chart could be forming an Ending Diagonal for downside (which may confirm the Expanding Flat on the weekly chart for a potential ~25% liquidation to around $2150, with minimum target being $2334).. or it could be forming a Running Flat for upside (which may indicate we are indeed in a long term bull run and the correction was over when we bottomed out in Christmas).. either case, it will end up going to around $3050 (Point #5 circled) sometime in the next week or so.. from there we will know the next chapter of the story..
Jul 17
Comment: Ignore the risk/reward widget.. left that in there by mistake..
Good analysis.

I agree with the 3200. I'm targeting a 3150-3200 by July 31. If SP500 continues to rise post Fed meeting, imo could be a short squeeze to 3400+ easily before probably a 10% correction at or around October. Pretty unbelievable given the overall sentiment of technicals and fundamentals but its very possible.
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