Looking at the 4h time frame of SP500, we were seeing price coming nicely and impulsively back to all-time highs, which is most likely wave (3) of a five-wave bullish cycle, because of a broken base channel, so more upside can be seen for wave (5) after current wave (4) correction is completed. Nice technical support in the 5220 - 5290 area.

(Click on image to enlarge)

For a detailed view and more analysis like this you may want to watch below our latest recording of a live webinar streamed on May 27 2024:

More By This Author:

Potential ECB Cut And UK CPI Data Can Cause Drop On EURGBP Out Of An Elliott Wave Triangle
Bitcoin Dominance Is Slowing Down In The Bullish Crypto Market; ALTcoins Are Ready
Crypto Market Is Back In Uptrend