S&P Futures

Updated July 22, 2019.

Lets zoom out from the hourly chart to the daily chart and we can then see there are technically so far only 7 waves up, with the last three possible part of a diagonal. This advance off the June low has simple been rather atypical and therefore hard to track: no “normal” 1st, 2nd and 3rd wave fib-extensions and retraces for example other than on the micro-scale. This makes therefore all forecasts more difficult and less certain. IF the Bulls can muster a 9th wave up from the 2970 low that be favorable. So for now, all forecasts are simple low probability and below 2970 targets 2920, while above 3010 can target 3050.