Watch S&P 500 ($SPX) Elliott Wave sequence remains bullish [Video] FXStreet – The Foreign Exchange Market News

Short time period Elliott Wave view in S&P 500 ($SPX) means that cycle from 8.5.2024 low is in growth as a 5 waves impulse. Up from 8.5.2024 low, wave (1) ended at 5651.62 and dips in wave (2) ended at 5402.62. Internal subdivision of wave (2) spread out as a zigzag construction the place wave A ended at 5480.54, wave B ended at 5522.47, and wave C decrease ended at 5402.62. This finished wave (2) in upper level.

Index has grew to become upper in wave (3) with inner subdivision as some other impulse in lesser level. Up from wave (2), wave 1 ended at 5495.14 and wave 2 pullback ended at 5406.96. Up from wave 2, wave ((i)) ended at 5560.41 and dips in wave ((ii)) ended at 5528.86. Wave ((iii)) upper ended at 5670.81 and pullback in wave ((iv)) ended at 5614.05. Final leg wave ((v)) ended at 5689.75 which finished wave 3 in upper level. Pullback in wave 4 ended at 5615.08. Index has prolonged upper once more in wave 5. Near time period, so far as pivot at 5401. low remains intact, be expecting pullback to seek out toughen in 3, 7, 11 swing for extra upside.

S&P 500 (SPX) 60 mins Elliott Wave chart

SPX Elliott Wave [Video]