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syedhamza2135

S&P Daily Outlook

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Índice S&P 500 (OANDA:SPX500USD)  
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OANDA:SPX500USD   Índice S&P 500
Wave Analysis Fibonacci Support and Resistance SP S&P 500 (SPX500) sp500usd es1
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waveanalysis fibonacci supportandresistance sp spx500 sp500usd es1
We saw nice pump on Friday before market closing and an upward gap upon market open showing that the bears are getting hammered. In meantime, I would like to point out on the overall outlook on S&P according to daily time-frame. As you can see the correction shown on daily time-frame which consist of simple WXY waves are still underway. I am currently projecting the Y wave to end around 200% of W wave, in order for me to consider the possibility that the Y wave has ended already, I would need to see price action closing above 3887$ this week. Currently I am not seeing much hope for the current bullish move to continue much further.
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Some of the possible scenarios on SPX rn on LTF

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