S&P500 Elliott Wave and Price Action Analysis for 28th Sep

S&P500 Spot Price Action 4H:

S&P500 Price Action

Bearish Trend Line Price 3305 is near to break If price breaks the trendline and stay above it then it is a sign of Bulls control over a bear.

After confirmation of Bull's strength, Good Risk Reward entry near support 3272-3283 with stop loss of 3200.

Fibonacci 50% & 61.8% Retracement of Last leg is @ 3398-3442. So the Target of the Bull run is between 3398-3442.

S&P500 Elliott Wave 30min:

S&P500 Elliott wave Analysis

Retracement of the Previous wave  from 3591 -3207 is under progress, mentioned as a B wave.

Sub waves of B wave as ABC

A wave  (Sub waves as abc). Sub wave C  might be completed near 123.6% to 161.8% of a wave between 3305-3333.

B wave may 50 to 6.8% Retracement of A wave between 3264-3250

C wave forecast 161.8 to 261.8% of A wave from the ending of B wave

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