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Elliott Wave Analysis: S&P500 Intra-day Rally!

S&P500 is recovering with five waves into black wave 5 of a higher degree wave C) or 3). Resistance for wave C) or 3) can be near the 2600 area, from where a minimum three-wave drop can follow. A decisive breach below the lower channel line, connected from 4th of January would confirm a completed higher degree A)-B)-C) and a bearish continuation.

S&P500, 30Min

Elliott Wave Financial Service
Elliott Wave Financial Service
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