Technical analysis
S&P 500 Wave Analysis 29 January 2024
January 29, 2024 @ 20:46 +03:00
![](https://fxpro.news/wp-content/uploads/2024/01/spx-primary-analysis-jan-29-1815-pm-1-day-1024x475.png)
– S&P 500 rising strongly
– Likely to rise to resistance level 5000.00
S&P 500 index rising strongly after the price broke above the resistance level 4800.00 (which stopped the previous impulse waves 1 and i, as can be seen below).
The breakout of the resistance level 4800.00 accelerated the active minor impulse wave 3 of the intermediate impulse wave (C) from the end of October.
Given the clear daily uptrend, S&P 500 index can be expected to rise further to the next round resistance level 5000.00, target for the completion of the active impulse wave (C).