SPX 500 in a precarious place - Watching 4035

26 apr 2022

If we only looked at fundamentals, we might think the traders are crazy for not selling out of the market completely. But the fact of the matter is that there are still enough traders with a risk appetite to keep buying the dips in hopes of a renewed rally. So the direction of the markets is still unclear. I've laid out an Elliott Wave triangle pattern grid that calls for one more top. But be aware of where the whole thing collapses if the lines are breached at 4035.