S&P 500 Wave Analysis – 26 May, 2022

• S&P 500 rising inside wave (iv)
• Likely to reach resistance level 4100.00

S&P 500 index earlier reversed up from the key support level 3900.00, standing near the lower daily Bollinger Band and the support trendline of the daily down channel from January.

The upward reversal from the support level 3900.00 started the active short-term correction (iv).

S&P 500 index can be expected to rise further toward the next resistance level 4100.00 (top of the earlier minor correction (iv)).