I’m leaning towards one more push up to the 1950-80 area to finish wave 4. This is based on the assumption that if wave 4c = 4a = +96 it will lead to a target for 4c of 1872+96 = 1968. During September 2015, the S&P500 formed a similar wave 4 pattern and at that time, wave c (+117) was smaller than wave a (+126), i.e. c was 90% of a. If this is repeated, then the target becomes 1872+86=1958.
There’s resistance @ 1955 and 1980 so that could be the area where wave 4 will top and wave 5 down will start.
The Swing Alert is on a BUY signal since JAN 22 @ 1899 (E-mini) and currently shows no weakness.
Click on the link for the full update including the target of the ascending triangle, fibonacci key levels and our cyclical model.
Enjoy the day!
There’s resistance @ 1955 and 1980 so that could be the area where wave 4 will top and wave 5 down will start.
The Swing Alert is on a BUY signal since JAN 22 @ 1899 (E-mini) and currently shows no weakness.
Click on the link for the full update including the target of the ascending triangle, fibonacci key levels and our cyclical model.
Enjoy the day!