We have seen some slowdown on SP500 from 5600 as expected,  so wondering if maybe a new higher-degree pause will come in play into wave IV as black wave III can be coming into resistance when looking at daily chart. Also trading through summer can be very slow ,but for now we ar not there yet it seems.

Looking at the 4-hour chart, SP500 is still trading within the bullish channel and the drop at the moment is in three waves, so ideally that’s wave (4) that can take price back to a new high for wave (5), through 5600 in the near future. 

For a detailed view and more analysis like this you may want to watch below our latest recording of a live webinar streamed on July 01 2024: 

More By This Author:

Cardano Steps Into A Higher Degree Corrective Setback
Bitcoin Is Still In A Corrective Phase
Gold Keeps Consolidating Within A Higher Degree Correction