The S&P 500 has experienced a significant retracement of around 5 to 6% in November, stopping around the 6500 area after a sell-off due to Trump’s tariff threats on China. The market has rebounded beautifully from this zone with impulsive characteristics, indicating a potential fifth wave higher. A break into all-time highs and the 7k area is expected soon, with a bullish resumption in wave (3). The bearish USDollar Index (DXY) may lead to a reversal pattern, sending prices lower after completion of a higher-degree wave four, possibly down to the 97.70 area. Stay tuned for more updates on FX, Stocks, Metals, and Crypto at wavetraders.com.

Read more at Barchart: SP500 Remains Bullish After The FED Meeting