SPX500 Cycle Wave V To End Impulse III

By Roman Onegin of Orbex

Leading FX Broker • Mar 16, 2023 at 7:21 AM EDT

The SPX500 index continues the development of a major impulse consisting of sub-waves I-II-III-IV-V.

The SPX500 index continues the development of a major impulse consisting of sub-waves I-II-III-IV-V.

On the current chart, we can notice a cycle correction IV in the form of a primary triple zigzag, after which the price moved higher.

Impulse V is now under development . In the near future, prices could increase to a maximum of 4815.42.

Alternatively, the construction of correction IV could continue. Perhaps its actionary wave Ⓩ tends to equality with the wave Ⓨ.

In the near future, the cost is expected to fall to 3334.63. At that level, sub-waves Ⓩ and Ⓨ will be equal.

Then, after reaching the specified level, the price can turn around and start an upward movement.

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