Elliott Wave Analysis: S&P500 In A Possible New Impulse
|S&P500 possibly completed a corrective pullback in the red wave 4) at 2156 level, which means that this new bullish rally may be the start of a new impulsive uptrend in the red wave 5). As such we believe that black wave 1 could be in the making with four visible sub-waves already here. The target for the fift wave of wave 1 may come in around the 2184 region, from where a three wave of a decline could unfold as part of corrective wave 2).
S&P500, 1H
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