E-Mini, SPX: Preparing For Another Bull Train?

E-Mini, SPX: Preparing For Another Bull Train?

18 July 2016, 12:55
AynGannRand
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Last week, E-Mini reached our initial target at 2162, made a high at 2168 and entered into a wave 4 that seems to be complete today in Pre-Market trading. Wave 4 might take a bit longer and create a complex structure and make intraday trading difficult but the next move up will be a good opportunity to buy.

 

E-Mini 1H Chart - July 18, 2016

  


In the 1h chart, we can clearly count i, ii, iii, iv waves (green) and wave iv has retraced 23.8% of green wave iii (characteristic of wave 4). If this iv turns into a complex structure then the next support would be 2135 (38% of wave iii).

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