SPX seems to be in a 5 wave upward trend. We see alternation in waves 2 (subdividing) and 4 (sharp move down). We also see that 1 = 3 and 5 so far is 5 = 0.618*1 hence the pullback. Both 2 and 4 have retraced 1 and 3 exactly 50%. The target for wave 5 should either be 0.618*1 or 1.618*1 giving us a pretty bullish move ahead. Will publish short term view in a separate post.
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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.