Brief time period Elliott Wave outlook in SPX favors extra upside [Video]

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Rally from 10.13.2022 low in SPX is in growth as a nesting impulse. Up from 10.13.2022 low, wave (1) ended at 4100.51 and dips in wave (2) ended at 3764.49. The Index has resumed upper in wave (3) with subdivision as every other impulse in lesser level. Up from wave (2), wave 1 ended at 4195.44 and pullback in wave 2 ended at 3937.85. The half-hour chart beneath presentations the pullback in wave 2. Inside subdivision of wave 2 spread out as a zigzag Elliott Wave construction. Down from wave 1, wave ((a)) ended at the place wave ((a)) ended at 4088.39 and wave ((b)) rally ended at 4176.54.

SPX half-hour hour Elliott Wave chart

Wave ((c)) decrease ended at 3937.85 with interior subdivision as a 5 waves. Down from wave ((b)), wave (i) ended at 4063.18 and rally in wave (ii) ended at 4148.11. Wave (iii) decrease ended at 3943.08, rally in wave (iv) ended at 4014.13, and ultimate leg wave (v) ended at 3937.85. This finished wave ((c)) of two in upper level. The Index has became upper now in wave 3 of (3). Close to time period, so far as pivot at 3937.85 low remains intact, be expecting dips to search out fortify in 3, 7, or 11 swing for additional upside.