Yesterday, the S&P 500 climbed back into our magenta Target Zone, which was important for our primary scenario to remain intact. In the next step, the index should now succeed in surmounting the resistances at 4365 and 4634 in order to establish the high of the magenta wave (v) above these marks. So, for now, it is essential for S&P to push the rise further and to sustainably distance itself from the low of the magenta wave (iv).
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.