S&P500 is
still trading higher which is not a surprise as we are tracking an impulsive
rally that should be sub-divided by five waves. Well latest corrective
retracement to 1623 was wave (iv) so current new leg up should be wave (v)
final leg in impulsive trend that could stop around 1655. Keep in mind that
after every five waves correction follows, so if our count is correct then we
will see a reversal back to 1623 swing zone.
Traders who are
long will make tight stops, traders on the sideline will wait pull-backs.
For
more analysis visit us at http://www.ew-forecast.com/service/
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