Short
S&P500 FUTURES IS BEARISH & SOON TO BEGIN RETRACE TO 3393 LEVEL
S&P500 futures has good rallies since end March 2020 after sharp correction with global pandemic outbreak. The futures as shown in the chart shows the values are nicely run up within uptrend channel.
Based on Elliott wave count, S&P500 have already completed its wave (3) formation and it is in the process of forming into wave (4) (refer to the chart). It is estimated the value will retrace to approximately 3393 level based on Fibonacci retracement. However, this is just a retracement and correction, the trend will continue once correction is over.
Get prepare to short the S&P500 futures.
Good luck traders!
Based on Elliott wave count, S&P500 have already completed its wave (3) formation and it is in the process of forming into wave (4) (refer to the chart). It is estimated the value will retrace to approximately 3393 level based on Fibonacci retracement. However, this is just a retracement and correction, the trend will continue once correction is over.
Get prepare to short the S&P500 futures.
Good luck traders!
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