S&P500: Elliott Wave comment at 29th of August

The main question is: how could our italian index S&P/MIB go up if the S&P500 will go down? Will our index beat the largest index in the world?
Difficult to say yes, but world of possibilities is infinite ...

S&P500 main level are always 1310 and 1266. Probably next week there will be the setup of this ugly and violent third wave down, long awaited till now, but for this I wait the breakdown of 1266. 28th of August, setup date indicated in my S&P500 Weekly Report, has probably set its major influence and now the great fall of this index should begin.

S&P/MIB has reached a major retracement area on the hourly chart (see figure on the left), filling up the gap, and now the S&P/MIB index should be dragged down by major USA markets.

For Elliott Wave counting, further details, targets, setup dates and technical charts, please refer to my newly updated S&P500 and S&P/MIB Weekly Reports.

Humanitas, Felicitas et Libertas omnibus!