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Writer's picturePeet Serfontein

Analyst thoughts: S&P500 Medium-term

THE VIEW IS RETAINED TO ACCOMMODATE MULTIPLE STRATEGIES FOR PRICE ADJUSTMENT.

  • The overall view of a bull trend to TA1 is materialising.

  • Recent overlapping and indecisive price action is favouring A P*/Z triangle pattern, rather than the PQ* flag. The PQ* formation remains a feasible alternative.

  • The phase 4 corrective phase seems incomplete with further subdivisions required, as illustrated.

  • The current phase remains part of the larger 1,2,3,4,5 bull trend to the highlighted TA1 target area

  • Q* is pivotal for the larger bullish outcome. A break below this level will neutralize the longer-term upside potential. Breaking above P* will activate the illustrated gains.

  • Conviction: Medium to high

  • Note: The exact Z level has not yet been confirmed by price action and is currently an approximation.



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