E-mini S&P500 moved to a new high last week, above 2000 psychological level so we assume that price is now in fifth subwave of an extended wave 3) that can form a top formation, but only temporary as coming retracement is likely going to be another correction within uptrend. We are looking at red wave 4) that can retrace even back to 1960-1970 region where new bounce may happen. In the mean time invalidation level at 1943 must not be breached.S&P500,4H
By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.
Recommended Content
Editors’ Picks
EUR/USD retreats to 1.0700 after US data
EUR/USD lost its traction and turned negative on the day near 1.0700 in the American session on Tuesday. The data from the US showed that Employment Cost Index rose more than expected in Q1 and provided a boost to the USD.
GBP/USD declines toward 1.2500 on renewed USD strength
GBP/USD turned south and dropped toward 1.2500 in the second half of the day. The US Dollar gathers strength following the strong wage inflation data, forcing the pair to stay on the back foot.
Gold extends daily slide toward $2,300 after US data
Gold stays under bearish pressure and declines toward $2,300 on Tuesday. The benchmark 10-year US Treasury bond yield stays in positive territory above 4.6% after US Employment Cost Index data, weighing on XAU/USD.
XRP hovers above $0.51 as Ripple motion to strike new expert materials receives SEC response
Ripple (XRP) trades broadly sideways on Tuesday after closing above $0.51 on Monday as the payment firm’s legal battle against the US Securities and Exchange Commission (SEC) persists.
Eurozone inflation stable as the outlook on prices gets increasingly muddied
Eurozone headline inflation remains stable at 2.4%. With higher energy prices and improving domestic demand, questions about the direction of inflation become louder.