S&P 500 Breaking Higher
Good morning traders!
Today's focus will be on the S&P 500, its 4h and daily look.
E-mini S&P 500 surprised and turned up impulsively from 2431 which means that decline from 2490 was just another sharp sell-off; a corrective wave 4). As such, we are staying bullish on stocks now for a push to a new all-time high again, but into wave 5) which may rise up to 2500 with three waves since we are tracking an expanding diagonal in final stages of a larger bullish trend (visible on the daily chart).
S&P 500, 4H
S&P 500, Daily
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