SP500 Targets at 3020, or 3400?!
April 28 2019
If you are our member and follower for more than 6 months or if you are on our newsletter list then you know that we have been showing an incomplete bullish trend on SP500 back in December, when we also sent out free report (click here to see). We showed both DAX and SP500 in fourth wave pullback and fifth wave up in view which is now in full progress. I went through some of the longer-term global indexes and noticed that some of them are already at all-time highs, but some has still plenty of room to hit them. So today, when I looked at SP500 I think that there can be higher prices into wave five of five. Normally on stocks the last leg of a bull market is strong and extended, caused by euphoria before market turns to the opposite side. I still do not see that euphoria so think that trend on SP500 is stable and it may progress towards 3400/3500 area, especially if we consider that other index are still far away from their all-time highs that are expected to be taken out anyway. But nothing moves in straight line, there are always pullbacks on smaller time frames, so maybe a new set-back will show from first interesting 3000/3050 area.
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