Short
S&P500 to test its support @ 4434
A simple A B C zigzag correction is completed in S&P500 index.Wave 'A' is 5 wave(wxyxz )marked as 12345 and Wave'C' is 5wave terminal expanding pattern(3,3,3,3,3)
Minimum requirement of wave''C'' is achieved (62%ofA) @ 4819 on 4th Jan'22.
This index will take a breath at this zone(62%) and test for its support level before making any upmove further.
The first support level ( c2,c4 trendline) is @4434. If this level brokes, we can see another bout of decline as this index starts its next phase of bear market
Minimum requirement of wave''C'' is achieved (62%ofA) @ 4819 on 4th Jan'22.
This index will take a breath at this zone(62%) and test for its support level before making any upmove further.
The first support level ( c2,c4 trendline) is @4434. If this level brokes, we can see another bout of decline as this index starts its next phase of bear market
Transaction en cours
C1 ,C2 and C3 completed now c4 under progress for 2 days upto 4714Note
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.