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SP500 Index Is Turning Into A Deeper Correction

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Jan 28 2020

Good day traders,

S&P500 started dropping from the 3340 level, where sub-wave 5) of a higher degree wave 3 had found a top. This drop can now represent part of a three-wave corrective move into a wave 4, which can look for support/bullish turn near the 3181/3070 region. That being said, a breach below the lower Elliott wave channel line will confirm a wave 4 correction to be underway.

If you want to be on track with our analysis and outlook in the future, make sure to consider a 7-Day trial at ew-forecast.com.

S&P500, 4h



Trade well,

The EW-Forecast team.



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