A short update for a long position: this suggests the Elliott’s Wave reading today.
During bull markets, the market climbs a wall of worry, says an old adage.
And this is probably what is happening right now, or – at least – what this EW chart is showing. Step by step, the SPX is rising wavy and cautious, with a first target in area 4250/300 and then a return at the previous all-times-high, in area 4700/800.
So, do not get distracted by the news, refine your trading tools, play around with the new A.I. toys and remember that, as the market always changes, human psychology always remains the same.
Chart generated with the desktop version of AdvancedGET