S&P 200 appears to be in a corrective ABC pattern. It has completed Waves A and B is currently moving upwards in Wave C. It has also completed four waves of Wave C and could move up next week to complete the fifth of the C wave around 6030.
Calculation of the target Wave (v) could be equal in length to wave (i) or Wave C could be 0.613 times the length of Wave A. Interestingly, in both cases, the target is around 6030.
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
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ABC wave completed?
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Looking for wave 3 to the downside
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.
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Wave (ii) complete and wave (iii) likely started?
PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk.