S&P 500 Analysis (14/08/2023)

The downwards wave structures are truncated. The inner truncated wave structure finished with the breach of the sloping channel. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state. The breach of the 4476.6 will initiate the formation of the uptrend truncated structure.
 

Trading idea:

Buy at the breach of 4476.6.

Stop-loss: 4442.2.

Target price levels: 4525.5, 4596.1.

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