S&P 500 Index Elliott Wave Technical Analysis By TrdingLounge

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S&P 500 Elliott Wave Analysis Trading Lounge Day Chart
S&P 500 Elliott Wave Technical Analysis
FUNCTION: Bullish Trend
MODE: Impulsive
STRUCTURE: Navy blue wave 1
POSITION: Gray wave 3
DIRECTION NEXT LOWER DEGREES: Navy blue wave 2
DETAILS: Gray wave 2 appears completed; navy blue wave 1 of 3 is now active.
Wave Cancel Invalidation Level: 4796
The S&P 500 daily chart shows a bullish wave structure with impulsive movement indicating strength. Navy blue wave one is forming within a larger gray wave three, following the completion of gray wave two. This marks the beginning of a potential sustained upward phase.

S&P 500 Elliott Wave Analysis Trading Lounge Weekly Chart
S&P 500 Elliott Wave Technical Analysis
FUNCTION: Bullish Trend
MODE: Impulsive
STRUCTURE: Navy blue wave 1
POSITION: Gray wave 3
DIRECTION NEXT LOWER DEGREES: Navy blue wave 2
DETAILS: Gray wave 2 appears completed; navy blue wave 1 of 3 is now active.
Wave Cancel Invalidation Level: 4796
The S&P 500 weekly chart confirms a bullish structure, with navy blue wave one developing as part of a larger gray wave three. The chart reflects a completed gray wave two and indicates a strong upward impulse now in play, which could extend significantly before correcting.

Technical Analyst: Malik Awais

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