Market Snapshots

S&P 500 Wave Analysis 5 April, 2021

S&P 500 Wave Analysis 5 April, 2021

• S&P 500 broke round resistance level 4000.00

• Likely to rise to resistance level 4200.00

S&P 500 index recently broke above the key round resistance level 4000.00 (which stopped the earlier impulse wave (iii) in March).

The breakout of the resistance level 4000.00 accelerated the active impulse waves (v), 5 and (C).

Given the strong daily uptrend – S&P 500 index is likely to rise further toward the next resistance level 4200.00 (target for the completion of the active impulse wave (C)).

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