US500-SP500 Mega Range PREMIUM/DISCOUNT - Elliott Waves Analysis
There is no much of doubt that SPX or US500 has established a pretty larger range where BULLS and BEARS will keep fighting for some time.
I believe that we entered into a consolidation phase before getting another leg down to the 50% of the range or a bit lower (61.8) in the discounted area (red).
Fundamentals are not great and push towards that scenario.
For those who followed me for some time as the BTC Trading Lab, I have stopped trading crypto and I now mainly focus on the DAX and SP500.
I believe that we entered into a consolidation phase before getting another leg down to the 50% of the range or a bit lower (61.8) in the discounted area (red).
Fundamentals are not great and push towards that scenario.
For those who followed me for some time as the BTC Trading Lab, I have stopped trading crypto and I now mainly focus on the DAX and SP500.