S&P500
reversed sharply to the upside from 1550 support, clearly in impulsive fashion.
As such, we labeled end of a corrective blue wave (4) at latest swing low from
where we are now tracking a new bullish leg on stocks, this time towards 1750
or possibly even to 1800 region in coming weeks for fifth wave in III.
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However, we must also be aware that wave
five is final leg within impulsive rally so no question, corrective reversal
will occur but at the moment we don’t see it unfolding yet. On the basic chart
below you can see where we think US stock market is at the moment.
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analysis then you can try us absolutely FREE FOR 7
DAYS!
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