E Elliott Wave Analysis: S&P 500 Update

S&P500 is trading in a three-wave rise, as part of a corrective blue wave B. We see legs A) and B) of this correction complete, so current rally can be final wave C) of B. That said, price is approaching some interesting resistance near 2727/2750 area, where bulls can slow down, and more weakness can follow into blue wave C. A later drop below the lower channel line would indicate a completed blue wave B correction, and a bearish reversal to be in progress.

S&P500, 4H