S&P 500 IndexLong
S&P 500 - A new all-time high this year! | Elliott Wave + Wedge
- SPX500, together with Nasdaq, has incredible power and is a great opportunity for traders and investors.
- On the 4h/daily chart, we have a descending broadening wedge, so you can wait for a breakout of this pattern to enter a long position.
- According to my Elliott Wave analysis, an ABC correction has ended, and there is a strong possibility of a new impulsive wave to the upside!
- As you can see, we have a total of 3 trendlines on this chart, which prints a very nice market structure.
- The previous all-time high is the next stop, and after that, we will go much higher.
- The price is currently sitting on the 0.618 FIB, which is definitely the strongest fibonacci level that provides a tremendous buying opportunity at this point.
- Look at my ideas about Bitcoin, Ethereum, and TOTAL crypto market cap in the related section down below.
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