Today we follow our winning SP500 Trade Higher!
I also take a look at the larger Elliott wave count for the SP500, SP400 and the Russell 2000 (RUT)
Elliott Wave SP500 Intraday: Our target last week was 3065 and now that we are here I can see it edging higher into Sub Group2 SG2 3065|3072|3080 this is part of the Trading Levels concept - that is using the price as a Fibonacci ratio, which can be used in any time frame.
Russell 2000 SP500 and SP400 Elliott Wave in the big picture of Intermediate degree I put forward the possibility of a much bigger bullish trend. Tacking the Russell up to 2000. There are many indicators to determine bullish and bearish trends, however, I like simple support and resistance and if the SP400 can manage to develop tested support in 2000 (Major Trading Level TL2) then that would be a long trade set up and an indication of the market moving much higher.
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