$3400 SPX Coming in HOT!
SPX Technical Analysis:By using a Tend-Based Fibonacci Extension, it becomes apparent that the .618 golden ratio is aligned at the S&P 500's all time high of $3400.
The index has traveled upward via an impulse wave since 23 March 2020, and that was followed by a correction wave, which exemplify the Elliott Wave Principle and combined with the key levels $2950, $3250, and $3400 confirm that a new impulse wave is beginning. Finally, the RSI indicates that SPX is oversold.
What do you think? Please comment and let me know if you are analyzing this underlying asset also or have questions about the indicators. Thanks!
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