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S&P 500

23 Nov 2021 ‚óŹ 04:15 AM

The S%P 500 could not cross the upper band on daily charts and the daily momentum is in sell mode. The last rally to the high is 5 waves and so we could see a near-term correction back to the lower band near 4584. This decline will be wave 2 of 5 long-term as wave 5 [boxed], has just started and this is the first rally inside it. Wave 5 cannot end so soon in my opinion and will take time to develop.

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