SP500 is looking higher for wave 5 of (5) of a five-wave bullish impulse by Elliott wave theory.
SP500 is bullish from 4100 area, an impulse that can resume even higher as the current sideways price action at 4360-4500 area appears like a corrective fourth wave, possibly a triangle or flat, but in either case more gains can be seen this month. Hidden divergence also suggests that price can be looking for a support soon. Support is at 4368, for a more complex and deeper w. 4.
Check our latest article regarding US Dollar Index – DXY. CLICK HERE