S&P 500 Index Wave Analysis – 27 February 2025

– S&P 500 index broke support zone

– Likely to fall support level 5800.00

S&P 500 index recently broke the support zone between the key support level 5925.00 (low of the previous waves a and c), the support trendline of the daily up channel from September and the 61.8% Fibonacci correction of the upward impulse from January.

The breakout of this support zone accelerated the active short-term correction ii – which belongs to the higher raves 3 and (C).

S&P 500 index can be expected to fall to the next support level 5800.00, a low of the previous minor corrections a and 2.