On June 11, we stated that the move from 7635 on SOLANA:J3NKxxXZcnNiMjKw9hYb2K4LUxgwB6t1FtPtQVsv3KFr was a correction targeting the prior rally from 6311 to 7635. I reiterated this view multiple times on June 26 and July 15. At the end of July and beginning of August, we directly informed everyone that the correction in the #S&P had ended, and a new uptrend was underway—followed by a new high at 7817. Without exaggeration, we predicted the future, while most observers could only witness history. Today, we’ll analyze the S&P 500 using 4-hour and 1-hour charts: The broader view remains unchanged—the new uptrend that began at 7297 is far from over. As shown in Figure 2, consider the move from 7297 to 7817 as one upward wave, and the current move from 7817 as a correction of that rally. Our nearest observation point is 7610. If the correction finds its end above this level, then the move from 7817 constitutes a strong pullback; if it breaks below, it’s a typical correction. We’ll continue monitoring this correction on the 15-minute chart, but regardless of the structure, the uptrend will resume after the correction concludes. This S&P correction presents an excellent opportunity to enter high-quality U.S. equity positions on the right side.
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