S&P 500 ($SPX) Elliott Wave Sequence Remains Bullish

S&P 500 ($SPX) Elliott Wave Sequence Remains Bullish

September 27, 2024 By EWFHendra

Short Term Elliott Wave View in S&P 500 ($SPX) suggests that cycle from 8.5.2024 low is in progress as a 5 waves impulse. Up from 8.5.2024 low, wave (1) ended at 5651.62 and dips in wave (2) ended at 5402.62. Internal subdivision of wave (2) unfolded as a zigzag structure where wave A ended at 5480.54, wave B ended at 5522.47, and wave C lower ended at 5402.62. This completed wave (2) in higher degree.

Index has turned higher in wave (3) with internal subdivision as another impulse in lesser degree. Up from wave (2), wave 1 ended at 5495.14 and wave 2 pullback ended at 5406.96. Up from wave 2, wave ((i)) ended at 5560.41 and dips in wave ((ii)) ended at 5528.86. Wave ((iii)) higher ended at 5670.81 and pullback in wave ((iv)) ended at 5614.05. Final leg wave ((v)) ended at 5689.75 which completed wave 3 in higher degree. Pullback in wave 4 ended at 5615.08. Index has extended higher again in wave 5. Near term, as far as pivot at 5401. low stays intact, expect pullback to find support in 3, 7, 11 swing for more upside.

S&P 500 (SPX) 30 Minutes Elliott Wave Chart

SPX Elliott Wave Chart

SPX Elliott Wave Video

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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