Elliott Wave Analysis: Strong Push On The S&P500 Indicates Final Wave In Play Towards New Highs


As expected, E-mini S&P500 recovered very sharply after that drop to 2030 area where market shows now signs of a completed three wave decline in wave IV, from August highs. Notice that current leg up is much stronger than the previous decline, so we believe that bigger uptrend is back in bullish mode, ideally in wave V that will be looking to reach new all-time highs. In the short-term however, be aware of a corrective set-back; ideally into wave B flat correction, back to that broken channel that can become a good support next week.


S&P500, 4H