S&P - Support is at 5070 or 4747 ?S&P would have fallen even if Trump didn't announce new tax on other countries. S&P has reached all my previous targets and there was no higher target left without a correction now. And this correction was expected fall and its been so steep and fast only due to new flow about tax. It has broken few previous support levels and from now first support coming at 5070 which is rising wedge target and also near to fib level and 4747 is ABC correction target which is the maximum low or correction can be expected in normal situation. In my view tax on other countries only supports domestic growth and in coming months US GDP will keep increasing only. so the latest tax news is supportive thing for equity market in 6 months to 12 months for sure. Use this for educational purpose and consult your advisor for any investment or trading. I am trying my best every time to time the market to help others.
