S&P500 forms the wave of the senior timeframe

According to the results of Friday’s trading sessions, S&P500 remains faithful to its bullish sentiment:
The price has finished forming wave a (C ) 1180.54-1126.88. According to the Department of studying Masterforex-V trading system , after the S&P500 retraces against the mentioned wave, there will be 2 variants of further movement:
1. Trend continuation in the form of “the Hound by Elder/MF”
2. Trend reversal (from bullish to bearish), which needs the following conditions to be fulfilled: the breakout of the defensive MF pivot, MF SC*, “the Moment of Truth/Test”, settlement below the volume of clusters and a FZR* of the same wave level.

Resistance levels:
1215.31-1210.44=100.0%W1+150.0%AD1+161.8%a(С) Н6-8
1190,78-1192.78=88,2%W1+123.6%а(С)Н6-8

Support levels:
1162,03=SC + pivot
1127,48= pivot

This week’s key news that can influence the market dynamics (GMT):

Oct 18th
13:00 USA - Net Long-term TIC Flows
13:15 USA - Industrial Production

Oct 19th
12:30 USA - Building Permits
12:30 USA - Housing Starts

Oct 20th
18:00 USA - Fed’s Beige Book

Oct 21st
12:30 USA - Jobless claims
14:00 USA - Philadelphia Fed Manufacturing Index
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FZR = Fractal-Zigzag Reversal
MF SC = Sloping Channel by Masterforex-V

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