After trend building up, S&P appears to be bounded by the 2 lines, dart-triangle shape pattern. Break-through upward could reach 5,060 according to the chart shown, which is also one of the F-retrace mark above. Rationales to support upward break-through include: (1) interest rate is to be maximized soon given some of the economic KPIs are supporting healthy...
In the last 3 trading days, the strong trend brought up Sugar to challenge the diagonal trend line. Eventually it went down yesterday and therefore it is believed to be an excellent short opportunity. Target max = $25.2
Triangle previously broken through on Jun 12. After that, the price didn't go upward immediately, but retested (again!) the upper line to show rebound on Jun 30. This provides another opportunity to long this stock. Let's see if it will pass the 1-yr record high ($160.7) soon. Target set at $197.
Three possible outcomes and worth to check it out one by one.
Short term parallel channel (black) 19,000
Big triangle breakthrough from 20,500 to 17,500
Long term parallel channel (grey) 14,200-14,500
Prior set of waves ends 2 months ago. Now picking uptrend starting from the 0.762 of prior wave set.
Observed a slower it momentum last night as it falls back “again”. Would be perfect if the short term 0.618 is tested.
