SP500 In A Bullish Impulse
Aug 19, 2022


SP500 is trading in a bullish impulse and from Elliott wave perspective it’s unfolding five waves up from the lows.

SP500 is in strong and impulsive rally, which indicates for a bullish five-wave movement away from the lows. Well, we believe that SP500 is in a bullish impulse and we can expect more upside within a projected five-wave cycle. Just be aware of a pullback in wave 4 before the uptrend for wave 5 resumes.

SP500 in a bullish impulse 4H Chart
SP500 4H Chart

Currently we can see it finishing wave (5) of 3 which can stop here around important Fibo. cluster target and 4300-4400 area. However, more gains can be seen, just keep in mind that higher degree wave 4 correction back to 4200 – 4100 support zone may occur anytime soon.

Trade well!

Check also our latest video analysis. CLICK HERE

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.