Elliott Wave Analysis: S&P500 Is Already Bullying the Bears; More Upside Expected!

Technical analysis of Forex market

S&P500 made a clear five-wave recovery from end of December of 2018, and towards end of March of 2019. We can see that afterwards a three-wave pullback had unfolded, which we labelled it as an A-B-C correction. This correction is usually within a trend, and it only slows the price down temporarily. At the moment, however we see price rising exponentially, and breaking above the upper corrective channel line, which is fist evidence that an A-B-C correction is completed, and that a bigger trend may continues its rise. If that is the case, then top near 2950 may get breached soon.

S&P500, Daily

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