SPX500 Primary Correction Wave Five Ending?

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The current SPX500 structure suggests a new bullish impulse in wave V which consists of primary sub-waves ①-②-③-④-⑤.

Horizontal correction wave ④, which took the form of an intermediate flat, has ended, whereas primary impulsive wave ⑤ is almost complete.

The end of the intermediate wave (5) could take prices up to 4100.00. Here, primary wave ⑤ will be at 76.4% of wave ③.


An alternative scenario shows that primary correction ④ has a longer structure and is still under development. This correction is assumed to be an intermediate triangle (A)-(B)-(C)-(D)-(E).

In the near future, we could see the completion of this correction near 3342.91.

At that level, wave (E) will be at 76.4% of wave (D).

Finally, we could see growth in primary wave ⑤.

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