SP500 Completed 5 Wave and ABCD, Could Continue Back Up
ES hit the fib retracement target region for a 5 wave and ABCD Elliott wave pattern.
It is quite likely to continue back up before long. It recently had a series of low range days so is likely to have a range expansion which means a large upward trend day is in the cards.
After trending upward, it is also likely to try to correct back down to the red median line, although that might a long way off.
I am looking for the bulls to put up a fight here, Monday might be choppy then Turnaround Tuesday ends up as a green trend day.
It is quite likely to continue back up before long. It recently had a series of low range days so is likely to have a range expansion which means a large upward trend day is in the cards.
After trending upward, it is also likely to try to correct back down to the red median line, although that might a long way off.
I am looking for the bulls to put up a fight here, Monday might be choppy then Turnaround Tuesday ends up as a green trend day.
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