S&P 500 Elliott Wave Technical Analysis – 27th June, 2017

A new low below 2,422.88 has invalidated the main Elliott wave count and confirmed the alternate. Yesterday’s bearish divergence between price and the AD line and VIX did warn of a possible breakdown.

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S&P 500 Elliott Wave Technical Analysis – 26th June, 2017

The main Elliott wave count again expected upwards movement. Monday has made a higher high and a higher low above Friday, the definition of upwards movement. This was expected.

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S&P 500 Elliott Wave Technical Analysis – 23rd June, 2017

The main Elliott wave count expected upwards movement. This happened at the end of the session for the candlestick to close green, but a lower low and a lower high for the session saw price overall move down from the prior day.

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S&P 500 Elliott Wave Technical Analysis – 21st June, 2017

Price remains above the invalidation point, but the closure of the last gap and price moving back down into the prior consolidation zone puts the breakout as false. The gap was a pattern gap and not a breakaway gap.

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