Indice S&P 500Aggiornato SPY/SPX ABC Flat Correction Possible
The bullishness in the last few trading days suggests this market wants to head higher.
Putting the bearish bias aside, there might be a possibility of pushing up to ATH by September/October.
This may be followed by a C Wave down as schools and major businessed start to open, allowing the fundamentals to come into play.
Currently, I believe the second wave of the move up is just starting.
Invalidation will be a drop below 2765. Either way, staying short till the market starts to show signs of a rebound up.
So in summary,
Putting the bearish bias aside, there might be a possibility of pushing up to ATH by September/October.
This may be followed by a C Wave down as schools and major businessed start to open, allowing the fundamentals to come into play.
Currently, I believe the second wave of the move up is just starting.
Invalidation will be a drop below 2765. Either way, staying short till the market starts to show signs of a rebound up.
So in summary,
- Bullish short term
- Bearish long term
Nota
Didn't really expect this to play out but seems like it is.Currently at 3220 area and looks like the third wave of the final up wave.
Looking for a pullback to buy back in and ride the last wave.
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