SP500 index Wave Analysis – 24 December, 2021

• SP500 index reversed from pivotal support level 4550.00

• Likely to rise to resistance level 4760.00

SP500 index recently reversed up from the pivotal support level 4550.00 (former monthly high form September, which has been repeatedly reversing the price from the end of October), strengthened by the lower daily Bollinger Band.

The downward reversal from the support level 4550.00 started the active medium-term impulse wave (3).

SP500 index can be expected to rise further toward the next resistance level 4760.00 (previous top of wave (1)).