📈 S&P500 - Christmas Rally ⁉️
After reanalyzing the S&P 500, I've made significant adjustments as the previous scenario didn't quite align. According to my current assessment, the upcoming weeks and months might unfold as follows:
I still believe that a Wave 5 emerged in January 2022. Subsequently, we experienced a Double Zigzag descent to the $3500 level, where Wave A formed with another Zigzag, leading to Wave B around $4600. While it could be Wave 1, I consider this possibility more speculative. I lean towards a potential continuation with a Triangle, specifically a bullish Contracting Triangle. I anticipate Wave E shooting beyond this trendline, initiating a reversal.
The robust accumulation phase within this box recently suggests a possible turnaround. Interestingly, Fibonacci levels like 38.2% and 50% happen to align there. Consequently, I view the range between $4200 and $4000 as an extremely compelling buying zone. 📈
I still believe that a Wave 5 emerged in January 2022. Subsequently, we experienced a Double Zigzag descent to the $3500 level, where Wave A formed with another Zigzag, leading to Wave B around $4600. While it could be Wave 1, I consider this possibility more speculative. I lean towards a potential continuation with a Triangle, specifically a bullish Contracting Triangle. I anticipate Wave E shooting beyond this trendline, initiating a reversal.
The robust accumulation phase within this box recently suggests a possible turnaround. Interestingly, Fibonacci levels like 38.2% and 50% happen to align there. Consequently, I view the range between $4200 and $4000 as an extremely compelling buying zone. 📈
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Discord (Crypto + Stocks) - discord.gg/G9c5TGETt2
Telegram (Stocks only) - t.me/+U7KhRNv61XczZmQ0
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✅ Swing & Intraday Trading
✅ Chart Requests
✅ Everyday more than 4 posts
✅ Total <1100 Members
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