The S&P 500 price broke out of a triangle formation nearly two weeks back which means that index is now in a final leg up within a higher degree wave 3. As such upside can be limited in the near future, once we have five sub waves up within red wave 5 of 3.
We see some nice resistance at 2330 from where the market may turn down later this week to start a new corrective pullback of a higher degree wave 4.
S&P 500, 4H
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