US 500 IndexShort
US500 evening analysis
Technical analysis of US500.
This analysis has price in wave 4 of (5).
Wave 4 would appear to be an Elliott Triangle Wave.
If accurate, wave 5 of (5) would provide one more all-time-high to complete top (unless truncated).
Price is very unlikely to tag median line of pitchfork (red line), a bearish side which suggests price should fall back to 5835.6 at a minimum.
Count valid for price below 6197.
This analysis has price in wave 4 of (5).
Wave 4 would appear to be an Elliott Triangle Wave.
If accurate, wave 5 of (5) would provide one more all-time-high to complete top (unless truncated).
Price is very unlikely to tag median line of pitchfork (red line), a bearish side which suggests price should fall back to 5835.6 at a minimum.
Count valid for price below 6197.
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