We see nice bounce from recent 1830 level but move to the upside can be temporary as we see corrective personality on lower time frames. Ideally market is making a corrective wave B that could be looking for a top at 2020-2040 in the next few days from where prices can fall back to the lows, deeper within ongoing corrective red wave IV).

S&P500, Daily

On the 4h chart, S&P500 is back at the highs, so seems like that wave C) of a flat in wave (B) is still in play towards 100% projection level of wave C)=A) which comes in around 2050. In that zone we also see that black subwave 5 will be equal to wave 1 so it's seems like an ideal area for a reversal down next week.

S&P500, 4h

A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott pattern.

Basic Flat Pattern:

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