#SP500 = Daily Update = 24.03.2022 #SPX $SPY #SPY #ES_F $SPX #market

Candles continue to register strong events that will be defining the path for the index for the nearest (and possibly the mid-term) future. 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 studying the SP500 one:

CANDLES

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The daily, 3-day and weekly candles are very straightforward with their messages.

The daily candle negated the bearish odds and closed above 200 DMA. The trend remains bullish by multiple factors and a move higher is expected.

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ELLIOTT WAVES SP500

SP500 Short Term – Operative Counts
This chart was shared in the weekly update and the target levels remain unchanged. There are two options for the channel, both are still preliminary.

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The wave upwards is shaping up and, if it develops as projected, we can have the better targets.

SUMMARY:
Based on the current candles and wave structures, SPX is expected to move towards the targets indicated on the charts.
From the weekly candles perspective, SPX does not have much room for maneuver and is expected to stay on track.

Good luck!

This alert was triggered on Friday, March 18th:

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