The S&P 500 (SPY) is trading nicely higher this month, with a clear impulsive personality away from 1981 area where market completed a big corrective set-back. As such, we will look now much higher on stocks as current rally should be made by five waves. At the moment, we see wave four in play now, which is a corrective leg, so weakness can be seen back to around 2130 region before uptrend resumes for wave 5) towards 2190-2200.
S&P 500, 4H
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