S&P 500 Wave Analysis 19 September 2024

– S&P 500 broke key resistance level 5670.00

– Likely to rise to resistance level 5800.00

S&P 500 index today broke above the key resistance level 5670.00 (which stopped the previous impulse waves (5) and (1), as can be seen below).

The breakout of the resistance level 5670.00 continues the active intermediate impulse wave (3) from the start of September.

Given the clear daily uptrend, S&P 500 index can be expected to rise further to the next resistance level 5800.00 (intersecting with the weekly up channel from April).