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SP500 is recovering strongly, having decisively broken above 6620 after exiting last week’s diagonal formation. This signals a new recovery phase that could extend further, supported by potential US–Iran ceasefire news. Even if the rally from 6317 proves corrective, upside within wave C remains likely as long as price holds above 6640. Near-term targets point toward previous highs, though strong resistance around 6894–6970 may limit further gains.
www.wavetraders.com
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