S&P 500 (US500) Chart Technical Outlook in a choppy correction higher
the index completed a bearish 5-wave count at 4,930 (Elliott Wave). We have seen a correction to the downside close to bespoke resistance 5,097. We are assessed as trading within the AB leg of a BC correction.
The point of control from April 22 is located at 4,990. We have a demand zone located at 4,977. I would look to this area as prime support. On the upside, we have a large supply zone located at 5,167.
