S&P500 H4 Corrections Will Soon End October Likely To Be Bearish

FX:SPX500   S&P 500 Index
S&P500 index has been in corrections and more conspicuous on H4 timeframe. The structure takes the form of a bullish wedge or ending diagonal . Price will likely breakaway from this structure to test weekly bearish order candlestick at 3400. This invariably will cause stocks to rally early next week.

Month of October before the US presidential elections statistically is bearish . In the past 5 elections, October ended in negative 4 times and we may witness similar bearish scenario coming October while November is more likely to be bullish .

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