S&P 500 hits a new all-time high as buyers defend the Equal Legs support zone, confirming bullish momentum following a technical three-wave correction.
The S&P 500 index has demonstrated significant bullish momentum after completing a three-wave corrective decline. By reaching the predefined 'Equal Legs' buying zone, the index triggered a technical rebound that successfully propelled the market to a new all-time high, validating the Elliott Wave analysis model.
The SPX completed a clear three-wave decline before entering the buying zone.
The index has rallied from the buying zone to reach a new all-time high.
The S&P 500 index surged to a fresh record high after successfully testing a predefined Elliott Wave buying zone. Technical analysis confirms the index completed a three-wave decline before triggering a sharp bullish reversal, validating the projected support levels for market participants.
The rally was signaled by Elliott Wave analysis, which identified a three-wave decline reaching a predefined Equal Legs buying zone.