As expected, E-mini S&P500 recovered very sharply after that drop to 2030 area where market now shows signs of a completed three wave decline in wave IV, from August highs. Notice that current leg up is much stronger than previous decline, so we believe that bigger uptrend is back in bullish mode, ideally in wave V that will be looking to reach new all-time highs. In the short-term, however, be aware of a corrective set-back; ideally into wave B a possible flat correction, back to that broken channel that can become a good support for next weeks trading.
S&P500, 4H
Comments
Log in or sign up to join the conversation.