SNP500: Incredibly Bullish Outlook - Broadening Wedge
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The SNP500 is currently looking like it's finishing its broadening wedge pattern and finishing its perfect ABCDE wave within. The technicals are showing a perfect alignment for a breakout and we might be seeing a final distribution phase before the push to all time highs. The only consideration for furthering the distribution phase would be the upcoming election cycle in the US, which may drive prices down temporarily; however, with the COVID19 situation already being recovered, we believe this is the final straw and may be a good chance for the bulls to easily push this through.
What we believe:
Based on the technicals of our ABCDE structure within our broadening wedge, followed by a perfect 12345 pattern from 2008 to present, we believe the SNP500 is astonishingly bullish. We also believe that if the NASDAQ can reach new highs, then the SNP500 and DOW Jones can follow along similar footpaths.
Here is a previous post we have done on the DOW JONES, and why we believe it may bullish until the year 2025:
Trade Safe.
X Force
The SNP500 is currently looking like it's finishing its broadening wedge pattern and finishing its perfect ABCDE wave within. The technicals are showing a perfect alignment for a breakout and we might be seeing a final distribution phase before the push to all time highs. The only consideration for furthering the distribution phase would be the upcoming election cycle in the US, which may drive prices down temporarily; however, with the COVID19 situation already being recovered, we believe this is the final straw and may be a good chance for the bulls to easily push this through.
What we believe:
Based on the technicals of our ABCDE structure within our broadening wedge, followed by a perfect 12345 pattern from 2008 to present, we believe the SNP500 is astonishingly bullish. We also believe that if the NASDAQ can reach new highs, then the SNP500 and DOW Jones can follow along similar footpaths.
Here is a previous post we have done on the DOW JONES, and why we believe it may bullish until the year 2025:
Trade Safe.
X Force
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