Short term Elliott Wave view in S&P 500 (SPX) suggests that the rally from 3.13.2023 low is unfolding as a 5 waves impulse structure. Up from 3.13.2023 low, wave ((i)) ended at 4186.92. Dips in wave ((ii)) ended at 4046.07 as the 60 minutes chart below shows. Up from there, wave (i) ended at 4147.02 and pullback in wave (ii) ended at 4098.92. Index extends higher in wave (iii) towards 4441.2 and dips in wave (iv) ended at 4328.08.
Final leg higher wave (v) ended at 4458.48 which completed wave ((iii)). Pullback in wave ((iv)) is in progress to correct cycle from 5.4.2023 low in 3, 7, or 11 swing. Down from wave ((iii)), wave (a) ended at 4385.05. Expect wave (b) rally to fail below 4458.48 and the Index to turn lower in wave (c) before it completes wave ((iv)) and resumes higher. Wave ((iv)) typically ends somewhere at the 23.6 – 38.2% Fibonacci retracement of wave ((iii)). That area is at 4301.2 – 4361.1. From here, the Index can find buyers for further upside. Near term, as far as pivot at 4046.07 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
Final leg higher wave (v) ended at 4458.48 which completed wave ((iii)). Pullback in wave ((iv)) is in progress to correct cycle from 5.4.2023 low in 3, 7, or 11 swing. Down from wave ((iii)), wave (a) ended at 4385.05. Expect wave (b) rally to fail below 4458.48 and the Index to turn lower in wave (c) before it completes wave ((iv)) and resumes higher. Wave ((iv)) typically ends somewhere at the 23.6 – 38.2% Fibonacci retracement of wave ((iii)). That area is at 4301.2 – 4361.1. From here, the Index can find buyers for further upside. Near term, as far as pivot at 4046.07 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.