S&P 500

Hello & welcome to this analysis

The index has entered into the potential reversal zone (PRZ) of a Bearish Harmonic ABCD pattern suggesting a higher probability of completion of an uptrend and likely reversal.

The likelihood of reversal confirmation would require it to start sustaining below 5900 on weekly basis since this is a pattern formed in the monthly time frame.

Harmonic Patterns are based on unique structures backed by specific Fibonacci ratios.

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