S&P Futures are at new highs which has been expected after only three wave retracement back to 1774 last week, labeled as black wave iv. This black wave iv is part of a five wave rally which means that price is now in final stages of current impulse so correction could occur in this week. This can happen from around current levels where wave v equals to wave i, or it can be from the second projected level 1825 (261.8% extension of wave i). A divergence on the RSI also suggests a coming reversal in price.
E-mini S&P500 4h Elliott Wave Analysis
Written by www.ew-forecast.com
