Hello traders, S&P 500 in daily timeframe , this analysis has been prepared in daily timeframe but has been published for a better view in 2 day timeframe.
According to the count, the first 1 and 2 waves have been completed and wave 2 is not normal correction compared to the main wave 1 because it does not have good conditions in terms of time and depth of correction, but in our wave, wave 2 is in this range.
In our opinion, the 3rd main wave is not complete and the 5th microwave is being formed.
The microwave 5 is not in the range that is likely to end compared to waves 1 and 3, so we think this wave will move up to the Fabio 0.38 relative to the previous waves and then the desired correction will begin.
The structure of wave 5 itself is in its fifth wave, which is relatively well formed in good conditions, and for the completion of other waves and better roofing, we will have climbs up to Fibo 0.618.
Breaking the trend line is required to confirm the correction.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️
According to the count, the first 1 and 2 waves have been completed and wave 2 is not normal correction compared to the main wave 1 because it does not have good conditions in terms of time and depth of correction, but in our wave, wave 2 is in this range.
In our opinion, the 3rd main wave is not complete and the 5th microwave is being formed.
The microwave 5 is not in the range that is likely to end compared to waves 1 and 3, so we think this wave will move up to the Fabio 0.38 relative to the previous waves and then the desired correction will begin.
The structure of wave 5 itself is in its fifth wave, which is relatively well formed in good conditions, and for the completion of other waves and better roofing, we will have climbs up to Fibo 0.618.
Breaking the trend line is required to confirm the correction.
🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏
❤️Please, support this idea with a like and comment!❤️