The price action from October 2022 low to October 2023 low can be interpreted alot of different ways, so let's ignore that data for a second.
From October 2023 low of 4103.78, price action has been much more clearly impulsive (at least until April 2024 low of 4953.56).
If this is to be interpreted as a five wave impulsive, from start to finish, then (1) is longer and (3), so (3) should be longer than (5).
If this is correct, then SPX should go no higher than 5536.30 before a correction towards 5000.
From October 2023 low of 4103.78, price action has been much more clearly impulsive (at least until April 2024 low of 4953.56).
If this is to be interpreted as a five wave impulsive, from start to finish, then (1) is longer and (3), so (3) should be longer than (5).
If this is correct, then SPX should go no higher than 5536.30 before a correction towards 5000.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.