WE HAVE MORE THAN ARGUMENT THAT THE P&S 500 HAS COMPLETED THE FIVE WAVES UP RALLY,AND CORRECTION HAS BEEN TAKING PLACE
FROM EWP PERSPECTIVE, THE LAST WAVE WAS UNABLE TO REACH THE UPPER TRENDLINE OF THE UP CHANNEL,AND THE NEGATIVE CLASSIC DIVERGENCE ON THE MACD HISTOGRAM CONFIRMED THIS COUNT
SO ,MORE LIKELY US MARKET INDCES IS CORRECTING WAVE 2, ADDITIONALLY THE FIFTH WAVE WAS AN ENDING DIAGONAL ,SO US INDCES WILL SUFFER FROM A DOUBLE EFFECT THAT MAY TAKE PRICES INTO DEEPLY CORRECTION THAT TEND TO MORE OFTEN TO RETRACE 61.8% OR 50% OF THE PREVIOUS WAVE (FROM MARCH LOW TO RECENT HIGH) ABOUT 2850-3000 ZONE AT LEAST TO 3200,
SO 3600 LEVEL SHOULD BE BROKEN AND THE 40 WEEK LINE MORE LIKELY CAN‘T OFFER SUPPORT AT 3400 AS WELL
