On December 6, 2022, after breaking out of the corrective wedge in which the market was in since October 13, the SP 500 index ended wave 1. Currently, I expect corrective wave 2 and a retest of the upper edge of the channel (green) and then I expect a fall in wave 3 with a range of around 3400 - 3435 where we have the range resulting from the flag formation (1 to 1) and the lower edge of the accelerated trend line. The market should reach the above-mentioned area by January 23-31, 2023.
You will notice a powerful divergence on the volume.
You will notice a powerful divergence on the volume.