S&P 500: ⬆️ Buy
– S&P 500 reversed from support zone
– Likely to rise to resistance level 7765.00
S&P 500 index recently reversed from the support zone located between the support level 7600.00 (former upper boundary of the sideway price range from May), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from June.
The upward reversal from this support zone stopped the c-wave of the earlier ABC correction 2 from August.
Given the overriding daily uptrend, S&P 500 index can be expected to rise to the next resistance level 7765.00 – top of waves b and ii.