S&P 500: Turn around! 🔄

After the S&P was able to close the price gap of the previous trading week, bullish pressure pushed the index up again. We have drawn a clear demarcation between our two scenarios with the resistance at 5254 points. Primarily, we categorize the magenta wave (1) as finished. The current wave (2) correction should come to an end in our magenta Target Zone (coordinates: 4635 – 4340 points). If, on the other hand, the index surpasses the resistance level at 5254 points, the internal wave Alt.5 in turquoise as well as the superordinate magenta wave Alt.(1) will reach a higher level again. We assign a probability of 30% to this alternative scenario.