SP500 shows ongoing bullish impulse

Gregor Horvat Wavetraders

SP500 keeps moving higher but its showing five waves up unfolding from 4160 area so can be final leg of a higher degree structure, meaning we should be aware of a potential limited upside. However, the rise has been strong since the start of June so current pullback is normal and ideally it's wave 4 now testing a key support around 4380 from where traders can be aware of another leg higher while price is above 4280.

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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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