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Elliott Wave Analysis: Amazon Rally Should Fail for another low Hello Traders, Short term Elliott Wave View in Amazon suggests that the bounce to 1784 ended red wave x. And red wave y is currently in progress lower as a double three Elliott Wave structure. Down from 1784, black wave ((W)) ended at 1420 and black wave ((X)) bounce is in progress and is currently trading in the blue box area where a reaction lower is expected. Internal of black wave ((W)) unfolded as a double correction where blue wave (W) ended at 1617.94, blue wave (X) ended at 1676.76, and blue wave (Y) ended at 1420. Internal of black wave ((X)) is unfolding as a double three Elliott Wave structure where blue wave (W) ended at 1550 and blue wave (X) ended at 1502.10. We expect the stock soon to extend lower again as far as pivot at 1784 high stays intact. We don’t like buying the proposed rally.
NASDAQ:AMZNShort
by Elliottwave-Forecast
EURJPY Bullish Impulse Elliott Wave Structure Calling HigherShort term view in EURJPY suggests rally from 5.11.2023 low is unfolding as a 5 waves impulse. Up from 5.11.2023 low, wave ((i)) ended at 151.06 and pullback in wave ((ii)) ended at 148.596. The pair then rallies higher in wave ((iii)) in 5 waves of lesser degree. Up from wave ((ii)), wave (i) ended at 150.19 and pullback in wave (ii) ended at 148.61. Pair extended higher in wave (iii) towards 156.93 and pullback in wave (iv) ended at 155.04. Final leg wave (v) ended at 158 which completed wave ((iii)) in higher degree as the 45 minutes chart below shows. Pullback in wave ((iv)) is currently in progress as a double three Elliott Wave structure. Down from wave ((iii)), wave a ended at 157.216 and wave b ended at 157.919. Wave c lower ended at 157.19 which completed wave (w). Expect pair to rally in wave (x) to correct cycle from 6.28.2023 high (158) before turning lower again in 3 waves to complete wave (y). This should complete wave ((iv)) in higher degree before pair resumes higher again. Near term, as far as pivot at 154 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
by Elliottwave-Forecast
1
S&P 500 ETF (SPY) Elliott Wave Sequence Remains BullishShort term, SPY favors higher in impulse Elliott wave sequence started from 5.04.2023 low and expect further strength to continue in wave 3. SPY finished wave 1 at 417.62 high started from 3.13.2023 low. It placed ((i)) at 402.49 high and ((ii)) at 389.33 low as 0.618 Fibonacci retracement. It finished ((iii)) of 1 at 416.06 high and ((iv)) at 403.78 low. Finally, it ended ((v)) at 417.62 high as wave 1. It corrected lower in 2, ended at 403.74 low as 0.382 Fibonacci retracement of wave 1. Above there, it favors higher in wave 3 and expect further strength to continue before correcting in 4. Within wave 3, it placed ((i)) at 420.87 high and ((ii)) at 409.88 low as 0.618 Fibonacci retracement of ((i)). Above 409.88 low, it favors higher in ((iii)) of 3. It placed (i) at 422.99 high and (ii) at 416.22 low. It finished (iii) at 443.90 high, in which it ended i at 429.67 high, ii at 425.75 low, iii at 439.06 high, iv at 433.59 low and v at 443.90 high as (iii). It proposed ended (iv) at 435.03 low. Within (iv), it placed at 440.01 low, b at 443.25 high and c in zigzag at 435.03 low as 3 swing reaction lower. Above there, it favors higher in (v) to finish ((iii)) of 3. As long as price remain above 409.88 low of ((ii)), it expects at least one more high. Alternate view can be ended ((iii)) at last high and correcting in ((iv)) as double correction, which may extend lower below 435.03. In that case, it can find support at next extreme areas before upside resumes.
AMEX:SPY
by Elliottwave-Forecast
Tesla (TSLA) Elliott Wave Bullish Sequence Suggest Further RallyTesla (TSLA) has broken above 2.16.2023 peak at 217.65. The stock now shows a bullish sequence from 1.6.2023 low favoring further upside. Near term, cycle from 5.24.2023 low is currently in progress as a 5 waves impulse with extension Elliott Wave structure. Up from 5.24.2023 low, wave ((i)) ended at 204.48 and dips in wave ((ii)) ended at 195.12. Internal subdivision of wave ((ii)) unfolded as a zigzag structure. Down from wave ((i)), wave (a) ended at 197.53, wave (b) ended at 202.99, and wave (c) lower ended at 195.12. This completed wave ((ii)) in larger degree. The stock then resumes higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 205.99 and pullback in wave (ii) ended at 199.37. Tesla then extends higher in wave (iii) with internal subdivision as another impulse in lesser degree. Up from wave (ii), wave i ended at 209.8 and dips in wave ii ended at 206.78. Wave iii ended at 218, pullback in wave iv ended at 212, and final leg wave v ended at 221.29 which completed wave (iii). Pullback in wave (iv) is now in progress in 7 swing and can reach 207 – 211 area before finding support for further upside. As far as pivot at 195.12 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.
NASDAQ:TSLA
by Elliottwave-Forecast
Google (GOOGL) Elliott Wave Impulsive Structure IncompleteShort Term Elliott Wave View on Google ( NASDAQ:GOOGL ) suggests it ended wave 2 pullback at 103.68. Wave 3 higher is currently in progress with internal subdivision as a 5 waves impulse with extension. This is often called nesting impulse. Up from wave 2, wave ((i)) ended at 107.49 and pullback in wave ((ii)) ended at 103.97. The stock resumes higher in wave ((iii)) with internal subdivision as another impulse in lesser degree. Up from wave ((ii)), wave i ended at 105.56 and wave ii ended at 104.11 Wave iii ended at 109.7, pullback in wave iv ended at 107.72, and wave v higher ended at 110.15 which completed wave (i). Stock then pullback in wave (ii) which ended at 106.70. Google has resumed higher in wave (iii) again. Up from wave (ii), wave i ended at 113.83 and dips in wave ii ended at 111.75. Stock resumes higher in wave iii towards 117.92, and pullback in wave iv ended at 115.85. Final leg wave v ended at 118.48 which completed wave (iii). Expect wave (iv) pullback to find support in 3, 7, 11 swing for further upside. Potential target for wave (iv) is 23.6 – 38.2% Fibonacci retracement of wave (iii) which comes at 113.9 – 115.7. Near term, as far as pivot at 103.7 low stays intact, expect the stock to extend higher.
NASDAQ:GOOGL
by Elliottwave-Forecast
Ethereum (ETHUSD) Has Scope to Correct Further from Elliott WaveEthereum (ETHUSD) ended cycle from 3.10.2023 low with wave 1 at 2140.9 as the 1-hour chart below shows. The crypto-currency is now correcting cycle from 3.10.2023 low in wave 2. Internal subdivision of the pullback is unfolding as a zigzag Elliott Wave structure. Down from wave 1, wave (i) ended at 2053.1 and wave (ii) rally ended at 2123.6 The crypto extended lower in wave (iii) towards 1826 and wave (iv) ended at 1889.1. Final leg wave (v) lower ended at 1802.6 which completed wave ((a)). Ethereum then corrected in wave ((b)) towards 1963.2 with internal subdivision as another zigzag in lesser degree. Up from wave ((a)), wave (a) ended at 1863.9 and pullback in wave (b) ended at 1859.7. Rally in wave (c) higher ended at 1963.2 which completed wave ((b)). The crypto has turned lower and broken below wave ((a)) at 1802.6. This confirms that the next leg lower wave ((c)) has started. Down from wave ((b)), wave (i) ended at 1787 and rally in wave (ii) ended at 1940. The crypto extends lower again in wave (iii). Down from wave (ii), wave i ended at 1806.1 and rally in wave ii ended at 1882.1. Near term, as far as pivot at 2140.9 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.
BITSTAMP:ETHUSD
by Elliottwave-Forecast
Nasdaq 100 ETF (QQQ) Resumes Higher in Elliott Wave ImpulseCycle from 3.13.2023 low in QQQ ended in wave ((i)) at 322.16 as the 45 minutes chart below shows. The ETF then corrected in wave ((ii)) which has also ended at 309.78. Internal subdivision of wave ((ii)) unfolded as a double three Elliott Wave structure. Down from wave ((i)), wave a ended at 312.82 and rally in wave b ended at 319.85. ETF extended lower in wave c towards 312.30 which ended wave (w) in higher degree. Rally in wave (x) ended at 321.46 with internal subdivision as a zigzag structure. Up from wave (w), wave a ended at 320.36 and wave b dips ended at 315.61. Wave c higher ended at 321.46 which completed wave (x). Down from wave (x), wave a ended at 314.10, wave b ended at 317.74, and wave c lower ended at 309.78 which completed wave (y) of ((ii)) in higher degree. QQQ has since resumed higher and broken above wave ((i)) suggesting the next leg higher has started. Up from wave ((ii)), wave i ended at 314.37 and pullback in wave ii ended at 310.22. The ETF extended higher in wave iii towards 322.80. Expect wave iv pullback to end and the ETF extends higher again in wave v to complete wave (i). Afterwards, it should pullback in wave (ii) to correct cycle from 4.26.2023 low in 3, 7, or 11 swing before it resumes higher.
NASDAQ:QQQ
by Elliottwave-Forecast
Crude Oil Looking To Complete Impulse Elliott Wave SequenceCL_F (Crude Oil) favors higher in 5 wave Impulse Elliott Wave sequence as wave 1 before pullback starts. It placed (B) at $64.12 low on 3/20/2023. Above (B) low, it placed ((i)) at $71.67 high & ((ii)) at $66.82 low. ((ii)) was 0.618 Fibonacci retracement of ((i)). It favored ended ((iii)) at $81.81 high on 4/04/2023 high as extended ((iii)). Within ((iii)), it placed (i) at $74.37 high, (ii) at $72.61 low, (iii) at $81.69 high, (iv) at $79.00 low & (v) ended at $81.81 high as ((iii)) as 2.0 Fibonacci extension of ((i)). It ended ((iv)) at $79.37 low as double as shallow correction on 4/11/2023. Above ((iv)) low, it favors higher in ((v)) of 1. Above ((iv)) low of $79.37, it ended (i) of ((v)) at $81.85 high & (ii) at $81.28 low. It ended (iii) at $83.53 high & favors pullback in (iv) before upside resumes in (v) to finish ((v)) as wave 1. Impulse sequence expects to finish with momentum divergence in fifth wave against third wave before correction starts. So, if it erases the momentum divergence with more upside, then it can be the part of nest within impulse sequence before pullback starts. Once it finished wave 1 as impulse sequence, it expects to pullback in 3, 7 or 11 swings against 3/20/2023 low before turning higher. It expects to remain supported at extreme areas in pullback.
NYMEX:CL1!
by Elliottwave-Forecast
DXY (US Dollar) Elliott Wave Sequence Favors LowerDXY (US Dollar) Showing 5 swings impulse Elliott wave sequence lower from the 3/08/2023 high, which ended at $101.415 low on 4/05/2023. Above there, it favors a corrective bounce in 3, 7 or 11 swings before downside resumes. DXY proposed ended (B) at $105.883 high on 3/08/2023. Below there, it placed ((i)) at $103.484 low & ((ii)) at $105.103 high. ((ii)) was 0.618 Fibonacci retracement of first leg. It placed ((iii)) at $101.915 low on 3/23/2023. It bounced off in ((iv)), which ended at $103.357 high on 3/24/2023. Finally, it ended ((v)) as diagonal sequence at $101.415 low on 4/05/2023 to finish wave 1. Above there, it favors a corrective bounce in wave 2, which should fail below (B) high to resume lower as the part of (C) leg, which confirms below February low. Above wave 1 low, it placed (a) at $102.052 high & (b) at $101.755 low. It favors higher in (c) of ((w)) of wave 2. It placed i at $102.297 high, ii at $101.988 low & iii at $102.807 high. Below there, it favors pullback in iv before final leg higher in v to finish (c) as ((w)) within extreme areas. It may even ended ((w)) leg & correcting lower in ((x)) leg to retest the low before turning higher in wave ((y)) as the part of 2. Wave 2 bounce should fail in 7 or 11 swings from extreme areas in bearish sequence to resumes downside later in wave 3 of (C), which confirms below $101.415 low.
ICEUS:DX1!
by Elliottwave-Forecast
Gold (XAUUSD) Elliott Wave Bullish Sequence Favors HigherGold (XAUUSD) broke above the previous peak on February 2, 2023 at 1959.74. It shows a bullish sequence from 9.28.2022 low favoring further upside. A 100% – 161.8% Fibonacci extension from 9.28.2022 low targets 2148 – 2360 to the upside. Near term, cycle from 2.28.2023 low is currently in progress as a 5 waves impulse Elliott Wave structure. Up from 2.28.2023 low, wave 1 ended at 1858.33 and dips in wave 2 ended at 1809. The metal extends higher again in wave 3 towards 2009.75. The 1 hour chart below shows pullback in wave 4 ended at 1933.90. Wave 5 higher is now in progress with subdivision as another impulse in lesser degree. Up from 4, wave ((i)) ended at 2003.28 and pullback in wave ((ii)) ended at 1943.70. Up from there, wave (i) ended at 1987.57, wave (ii) ended at 1949.30. Gold then extends higher in wave (iii) towards 2032.13 and dips in wave (iv) is proposed complete at 2000.50. Expect Gold to extend higher in wave (v) to complete wave ((iii)), then it should pullback in wave ((iv)) before the rally resumes. Near term, as far as pivot at 1933.64 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside.
FOREXCOM:XAUUSD
by Elliottwave-Forecast
1
Gold Miners ETF (GDX) Develops Elliott Wave Bullish SequenceGold Miners ETF (GDX) is close to breaking above the previous peak on 1.25.2023 high (33.34). A break above will open up a bullish sequence from 9.26.2022 low favoring further upside. Near term, cycle from 3.10.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 3.10.2023 low, wave 1 ended at 29.95 and pullback in wave 2 ended at 28.50. Wave 3 is currently ongoing with internal subdivision as another 5 waves in lesser degree. Up from wave 2, wave ((i)) ended at 31.99 and pullback in wave ((ii)) ended at 29.63. We can see wave ((i)) and ((ii)) in the 45 minutes chart below. The ETF then extends higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 31.80 and wave (ii) ended at 30.74. Wave (iii) ended at 32.80 and pullback in wave (iv) ended at 31.95. Final leg wave (v) of ((iii)) is expected to end soon, then it should pullback in wave ((iv)) before turning higher again in wave ((v)) to complete wave 3. Near term, as far as pivot at 29.63 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
AMEX:GDX
by Elliottwave-Forecast
Elliott Wave Suggests Bitcoin (BTCUSD) Should Continue ImpulsiveRally from 11.21.2022 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 11.21.2022 low, wave (1) ended at 25250 and pullback in wave (2) ended at 19578. The crypto-currency extends higher again in wave (3) towards 29380 with internal subdivision as another 5 waves in lesser degree. Up from wave (2), wave 1 ended at 26533 and dips in wave 2 ended at 23940. Bitcoin extends higher again in wave 3 towards 28567 and pullback in wave 4 ended at 26688. Final leg wave 5 ended at 29380 which also completed wave (3) in higher degree. Bitcoin then pullback in wave (4) with internal subdivision as a zigzag structure. Down from wave (3), wave A ended at 27043 and rally in wave B ended at 28217. Final leg wave C ended at 26541 which completed wave (4). Wave (5) higher is currently ongoing with internal subdivision as a 5 waves impulse. Wave 1 of (5) is expected to end soon, then it should pullback in wave 2. Afterwards, it should extend higher again in wave 3, pullback in wave 4, and make final move wave 5 of (5). Near term, while dips stay above wave (4) at 26541, but more importantly above wave (2) at 19578, expect the crypto-currency to extend higher again.
BITSTAMP:BTCUSD
by Elliottwave-Forecast
Elliott Wave Favors DAX Rally to FailCycle from 9.28.2022 low has ended as a 5 waves impulse at 15706.51. We labelled this rally as wave ((1)) as the 1 hour chart below shows. Wave ((2)) pullback is currently in progress to correct cycle from 9.28.2022 low. The decline from wave ((1)) peak on March 7, 2023 is unfolding as a double three Elliott Wave structure. Down from March 7, 2023 high, wave ((a)) ended at 14664.17 and rally in wave ((b)) ended at 15153.11. Final leg wave ((c)) lower ended at 14458.39 which completed wave W in higher degree. Wave X rally is now in progress to correct cycle from 3.7.2023 high with internal subdivision as a zigzag structure. Up from wave W, wave ((a)) ended at 15298.49 and pullback in wave ((b)) ended at 14809.82. Wave ((c)) higher is in progress to retest wave ((1)) high at 15706.51 before the Index turns lower. A 100% Fibonacci extension of wave ((a)) comes at 15644.18 which is a possible target for wave ((c)) of X. Near term, as far as pivot at 15706.51 high stays intact, expect the rally to fail and the Index to resume lower again.
XETR:DAX
by Elliottwave-Forecast
1
Impulsive Elliott Wave Decline in FTSE Calling More DownsideFTSE ended cycle from 3.16.2020 low with wave I at 8047.06. The Index is now in the process of correcting this 3 year rally in wave II. The internal subdivision of wave II is unfolding as a zigzag Elliott Wave structure. A zigzag structure is a 5-3-5 structure with ((A))-((B))-((C)) as the label. Wave ((A)) and ((C)) in this case subdivides into 5 waves impulse. In the 1 hour chart below, FTSE is still within wave ((A)) of II with subdivision as 5 waves. Down from wave I, wave 1 ended at 7978.61 and wave 2 ended at 8020.13. The Index then resumes lower in wave 3 towards 7870.39, and wave 4 ended at 7949.97. Final leg lower wave 5 ended at 7854.82 which completed wave (1). Rally in wave (2) ended at 7976.48 with subdivision as a zigzag structure. Up from wave (1), wave A ended at 7950.69 and pullback in wave B ended at 7875.03. Wave C higher ended at 7976.48 which completed wave (2). The Index resumes lower in wave (3). Down from wave (2), wave 1 ended at 7897.45 and rally in wave 2 ended at 7959.77. Expect the Index to extend lower 1 more time to end wave 3, then it should rally in wave 4 and extends lower again. Near term, as far as pivot at 7976.48 high stays intact, expect rally to fail in 3, 7, or 11 swing.
TVC:UKX
by Elliottwave-Forecast
Elliott Wave Perspective Favors Further Upside in Apple (AAPL)Cycle from 1.4.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 1.4.2023 low, wave ((1)) ended at 157.38 and pullback in wave ((2)) ended at 143.54 as the 1 hour chart below shows. Internal subdivision of wave ((2)) unfolded as a zigzag structure. Down from wave ((1)), wave (A) ended at 148.7 and rally in wave (B) ended at 156.33. Wave (C) lower subdivided into 5 waves impulse. Down from wave (B), wave 1 ended at 151.85 and wave 2 ended at 153.39. Stock resumes lower in wave 3 towards 145.72 and wave 4 ended at 149.17. Final leg wave 5 ended at 143.58 which completed wave (C) of ((2)) in higher degree. Stock turns higher in wave ((3)) with internal subdivision as a 5 waves impulse. Up from wave ((2)), wave 1 ended at 147.87 and dips in wave 2 ended at 145.23. Stock resumes higher again in wave 3 towards 153.49 and dips in wave 4 ended at 150.65. Final leg wave 5 ended at 156.30 which completed wave (1). Stock is now correcting cycle from 3.2.2023 low within wave (2) with internal subdivision as a zigzag. Down from wave (1), wave A ended at 151.08. Expect the stock to rally in wave B then turns lower again in wave C before ending wave (2) and resumes higher. As far as pivot at 143.58 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
NASDAQ:AAPL
by Elliottwave-Forecast
Elliott Wave Sequence in Litecoin (LTCUSD) Calling More DownsideCycle from Feb 16, 20223 high in Litecoin is in progress as a zigzag Elliott Wave structure. Down from Feb 16, wave ((a)) ended at 90.05 and rally in wave ((b)) ended at 98.33. Internal subdivision of wave ((b)) unfolded as a zigzag in lesser degree. Up from wave ((a)), wave (a) ended at 96.02 and pullback in wave (b) ended at 92.75. Third leg wave (c) ended at 98.33 which completed wave ((b)) in higher degree. The crypto-currency has resumed lower in wave ((c)) with subdivision as a 5 waves diagonal. Down from wave ((b)), wave i ended at 96.4 and rally in wave ii ended at 98.20. The crypto-currency extends lower in wave iii towards 93.91 and wave iv ended at 95.46. Final leg wave v ended at 85.85 which completed wave (i). Rally in wave (ii) ended at 91.71 with internal subdivision as a zigzag. Up from wave (i), wave a ended at 90.73 and dips in wave b ended at 87.50. Wave c higher ended at 91.71 which completed wave (ii) in higher degree. The crypto-currency extends lower in wave (iii) towards 84.01 with internal subdivision as a 5 waves. As far as pivot at 98.33 stays intact, expect rally in wave (iv) to fail in 3, 7, or 11 swing for further downside.
BITSTAMP:LTCUSD
by Elliottwave-Forecast
Elliott Wave Suggests Gold (XAUUSD) Still Has Scope to Extend LoSince forming the low on September 28, 2022, Gold has rallied and the structure of the rally from 2022 low looks impulsive. It ended the rally on 2.2.2023 high at 1959.74. Since then, Gold has corrected lower. The correction takes the form of a zigzag Elliott Wave structure. Down from 2.2.2023 high, wave (A) ended at 1860.44. The 45 minutes chart below shows wave (B) rally which ended at 1890.34. The metal has resumed lower in wave (C) with subdivision as a 5 waves impulse. Down from wave (B), wave ((i)) ended at 1851.5 and rally in wave ((ii)) ended at 1872.22. Wave ((iii)) ended at 1830.10, wave ((iv)) ended at 1844.84, and final leg wave ((v)) ended at 1826.50 which completed wave 1. Wave 2 rally took the form of an expanded Flat. Up from wave 1, wave ((a)) ended at 1845.29 and wave ((b)) ended at 1817.70. Wave ((c)) ended at 1847.45 which completed wave 2. The metal is currently in wave 3 of (C) lower. Down from wave 2, wave ((i)) ended at 1829.70 and wave ((ii)) ended at 1846.09. Near term, while rally fails below wave 2 at 1847.45 and more importantly below wave (B) at 1890.34, it still has scope to extend lower within wave (C).
FXOPEN:XAUUSD
by Elliottwave-Forecast
1
S&P 500 (SPX) Bullish Elliott Wave Sequence Favors UpsideS&P 500 (SPX) showing short term bullish Elliott wave sequence against October-2022 low. It proposed ended wave II correction at 10/13/2022 low of 3528.7 against daily sequence. Above there, it placed (1) at 4087.3 and (2) at 3764.5 low on 12/22/2022. It confirms higher high bullish sequence above (1) high, calling for further strength to continue. It placed wave 1 at 4011.54 high and 2 at 3885.54 low. Within wave 1, it favored ended ((i)) at 3846.65 high and ((ii)) at 3780.78 low. Above there, it placed ((iii)) at 3997.76 high as extended wave. It placed ((iv)) at 3965.95 low as shallow correction. Finally, it ended ((v)) at 4011.54 high as wave 1 in (3) sequence and ended wave 2 as 0.5 Fibonacci retracement against wave 1 at 3885.54 low. Above wave 2 low, it confirms higher high sequence as the part of wave 3 of (3). It placed ((i)) of wave 3 at 4039.31 high and ((ii)) at 3949.06 low as 0.618 Fibonacci retracement of wave ((i)). Currently, it favors higher in ((iii)) of 3. It favored ended (i) of ((iii)) at 4094.21 and (ii) at 4015.55 low as 0.5 Fibonacci retracement of wave (i). It is showing nest structure in wave 3 and expect to more strength to continue, while dips remain above (ii) low. In wave (iii) of ((iii)), it favors pullback in wave iv before final push higher to finish it. It placed wave i at 4077.16 high, ii at 4037.20 low and wave iii of (iii) at 4148.95 high. As long as price remains above (ii) low, it should see more upside as the part of nest within wave 3 and expect further strength. Alternatively, if it breaks below 4015.55 or 3949.06 low, it still can be either in ((ii)) or wave 2 correction and expect upside to continue later against 12/22/2022 low. It is showing bullish sequence and expect to remain supported in 3, 7 or 11 swings pullback to resume higher.
SP:SPX
by Elliottwave-Forecast
1