#SP500 = Daily Update = 21.03.2022 #SPX $SPY #SPY #ES_F $SPX #market

SP500 made a very strong bullish statement last week. While today’s candles are bearish, the technical support is lacking and the candles are presumably false. We should have an answer tomorrow.
Let’s have a closer look.

This SP500 Daily contains the charts and covers:
– SP500 – TA and Japanese Candlesticks analysis;
– short and long term charts and forecasts for SP500.

Members are recommended to read the VIX/VXX Daily Analysis before the SP500 one:

CANDLES

Daily
SPY, QQQ, DIA and IWM formed different variations of bearish Harami on the daily charts. While the formations are bearish, they are not supported well by certain technical indicators and have a good chance to turn the false flags.
We would not know about this until tomorrow. One of such confirmations would be a SPY closure tomorrow above today’s high.
We remember that the weekly odds are strong bullish and they can kick in any time.
Odds: Neutral-Bullish

ELLIOTT WAVES SP500

SPX

SP500 Short Term – Operative Counts
This chart was shared in the weekly update and it remains unchanged. The channel is still very preliminary, requires the top of 3 for adjustment.

The wave off the bottoms is very young. Once it develops, I will share an updated long term perspective, most likely in the monthly review.

SUMMARY:

Current Targets: $4610-4670

Good luck!

This alert was triggered on Friday, March 18th:

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