Using the Elliott Wave (EW) for the SP500 (SPX), we found three weeks ago that “if the index can stay at least above SPX5880, and especially last week’s low at SPX5696, we must allow it to ideally target SPX6060, possibly as high as SPX6175 before the next correction of around 5-7% can start.” Moreover, we’ve been tracking the index’s advance as an Ending Diagonal (ED) structure.
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