The S&P 500 fell sharply into wave C following the UK votes last week; it moved down into final wave of a big corrective set-back from April of this year, into wave II. We see a flat correction, that is a 3-3-5 contra-trend move that appears finished following recent bounce from 1981 that has impulsive qualities on lower time frames so we think that price may go much higher now, especially after a pullback down into a red wave (2) that may be very interesting to join the bullish ride.
S&P 500, 4H
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