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The bigger picture for Binary Options in the S&P500 Index appears to be CONFIRMED Bullish, with long-term targets in the 1,929.4 price area.
S&P500 appears to have just completed a Wave 4 correction at the 23.6% Retracement Level of Wave 3, with it’s Minor Wave C have retraced nearly 100% of Minor Wave A within Major Wave 4.
The chart below illustrates S&P500’s current decline in Wave 4, followed by a powerful resumption of the Bullish Trend – It is very likely that Minor Wave C is complete, having already retraced 100.0% of Minor Wave A in Major Wave 4, a classic bullish continuation point in the Elliott Wave Principle’s context. Since Wave 4 finished at the 23.6% Retracement of Wave 3 (which itself projected to 161.8% of Wave 1, it is highly likely that Wave 5 will either equal Wave 1 in price length, or be at the 38.2% or 61.8% projects of Waves 1 + 3.
Click The Binary Options Elliott Wave Chart Below To Expand:
Should the S&P500 continue to rise, it will be a reasonably impulsive powerful rise as Wave 5 is likely to be a powerful extension – Binary Options traders will stand to make better decisions when pursuing the price in this current uptrend.
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