Yesterday, the S&P 500 climbed back into our magenta Target Zone, which was important for our primary scenario to remain intact. In the next step, the index should now succeed in surmounting the resistances at 4365 and 4634 in order to establish the high of the magenta wave (v) above these marks. So, for now, it is essential for S&P to push the rise further and to sustainably distance itself from the low of the magenta wave (iv).
