SP500 remains trapped in consolidation; but [Video]

Gregor Horvat Wavetraders

Stocks are coming down with SP500 futures decline close to our second support at 3313-3352 area where we think downside can be limited because of a triangle wave count that we are tracking. The reason for a triangle is an overlapping drop wave October high so we see that as subwave C. If we are correct then price may turn up into wave D this week, toward the upper side of a trading range which may not be broken until the US elections are behind.

For more analysis also look at our latest video analysis below:

VIDEO:

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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