Risk-On Sentiment Can Push SP500 Higher And USD Lower
Nov 22, 2022


Risk-on sentiment can push SP500 higher and USD lower, as 5th wave is still missing from Elliott wave perspective.

SP500 is trading in an intraday bullish impulse in current risk-on sentiment, but we can see it slowing down now within wave 4 correction, which looks to be a bullish triangle pattern. So, once a triangle is fully completed, be aware of a bullish resumption for wave 5 with room up to 4125 level. Invalidation level remains at 3860.

Risk-On Sentiment Can Push SP500 Higher And USD Lower. 1H Chart
SP500 vs. DXY 1H Chart

At the same time US Dollar Index – DXY can face even more intraday weakness in risk-on sentiment, as it’s in negative correlation with the SP500. So, after recent corrective recovery in wave 4, watch out for a bearish continuation within 5th wave towards 105-104 area. Invalidation level is at 109.60.

Trade well!

Check our latest article about Crude OIL. CLICK HERE


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.