S&P500 at resistance, expecting another leg down soonThe S&P500 has reached its rebound B wave target area near 4400.
We are now expecting a drop towards the line linking the lows since 2008, near the 3100/3000 area.
RSI-14 is also at resistance.
A break above 4620 would invalidate this bearish view.
Ellliott
SHORT> 6.500 ABC Elliott sequence The truncation of the 5th wave of Elliott has been confirmed, signal of the interruption of the main trend. The price after going through the main dowtrend and various comeback attempts today and as expected has plummeted .
The truncation and the exit from the main trend are very strong indications and in fact bitcoin is preparing for the passage of the Halving H3 around medium levels.
The next path will be an ABC formation I think is fairly regular. In fact, I expect it to retrace around the 4th Pulse Wave level.
Attention there is a retracement of the course but the bulls are no escape. Consider the collapse of the oil WTI and the chaos that is growing. It is not a Tori climate.
This analysis relates to the previous ones which have all been verified.
4h Chart: