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market analysis

S&P Elliott Wave Analysis for Monday 04/24/23

The S&P has moved very well lately.  It is now at a crux, and can move higher with good reward to risk.  With that said, it can also move lower if it breaks some levels.  I came into this week slightly bullish, because it is up to the market to prove itself.

There is a good chance that the ES holds the current pattern, but there is also a chance that the pattern morphs into something else.  Keep an eye on those levels to the downside for price to hold.

Price must move strongly up after holding them to keep the bullishness going.  If it struggles then the pattern can shift to something else.  No matter what happens, there should be some very good day trades this week I expect.

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