A few weeks back, we discussed the SPX500 index. Today, the market continues to show a major impulse that includes sub-waves I-II–III-IV–V or its final portion.
It is possible that the fourth cycle correction IV was in the form a primary triple-zigzag. After which, the price went up.
Impulse V is in development. The market could move to 4815.42 in the near future. This was the mark of the cycle impulse wave III (it’s not visible on the chart).
Also, let’s look at the second scenario. Maybe the construction of correction IV could continue. There is an assumption that its actionary wave Ⓩ tends to equality with the wave Ⓨ.
In the near future, the price is expected to fall to the price mark of 3335.47, at which the sub-waves Ⓩ and Ⓨ will be equal to each other.
The market can fall, creating a minor impulse of 1-2-3-4 to the desired level.
The post SPX500 – We Are Still Waiting for a Bullish Increase At The Maximum Of 4815.42. was originally published on Orbex Forex Trading Forum.