SPX - 1 year correction completed.
If Dec 2021 had been the a Major (iii), then a complex corrective Wave 4 is possible which could span months or years. Taking one step at a time.
I believe we had hit a strong support and a completed Wave C. The current move off support zone had been rather steady.
Price is testing down trend line for the 3rd time.
With an impulsive Wave (3) heading into the trend line, higher chances it will break upwards.
Completion of minor Wave (5) at around 4150, with possible extension to 4300.
I seldom touch indices. Take this with a pinch of salt.
I believe we had hit a strong support and a completed Wave C. The current move off support zone had been rather steady.
Price is testing down trend line for the 3rd time.
With an impulsive Wave (3) heading into the trend line, higher chances it will break upwards.
Completion of minor Wave (5) at around 4150, with possible extension to 4300.
I seldom touch indices. Take this with a pinch of salt.
Comment:
Support reached, see if this area holds.
Trade closed: target reached:
Possible completion, or extend to 4300.
Correction to support / minor 4 first before heading to Wave 5.
Good luck!