On the intraday chart of the S&P500 Futures contract we see a nice and slow pullback which has a corrective personality so it confirms the fact that retracement is just temporary and part of incomplete uptrend. We see it as a blue wave (iv), which will typically retrace back to the area of a former wave four and for 38.2% compared to wave three. In our case we can see this interesting zone coming in at 2050-2053 so ideally price will bounce higher from here. We think that uptrend will continue to 2085 soon.
S&P500, 1H
S&P500, 1H
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