S&P 500 Wave Analysis – 11 August, 2022

• S&P 500 rising inside impulse waves (iii) and 3

• Likely to rise to resistance level 4300.00

S&P 500 index recently broke the resistance level 4170.00 (which stopped the earlier waves (4) and 2 in May and June).

The breakout of the resistance level 4170.00 continues the active short-term impulse waves (iii) and 3 – which belong to the sharp intermediate impulse wave (C) from last month.

S&P 500 index can be expected to rise further toward the next resistance level 4300.00 (forecast price for the completion of the active impulse 3).