S&P500 has made a corrective 3-wave move up as analyzed, the blue target has been reached. As long as we dont shoot over the blue target I am expecting the index to reverse to the downside again. So as for swingtraders there could be good risk riward ratio at current levels however, entries need to be timed in lower timeframes and be confirmed in price action, at the moment that is still missing. Keep that index on WL.
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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.