S&P500: Elliott Wave comment at 17th of September

S&P500 reached the second target at 1180 indicated un my S&P500 Weekly Report and now it is pulling back. First resistance is at 1220 (see hourly chart on the left). Then, I wait for another bearish movement.

Similarly, our S&P/MIB reached its first target at 26.400 indicated in my S&P/MIB Weekly Report and now it is pulling back to its first resistance at 27.500-27.600. Again, I wait for a new bearish movement. Situation is safe only above 28.500.

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

H.F.L.