Monthly Archives: June 2012

S&P 500 Elliott Wave Technical Analysis – 28th June, 2012

Yesterday’s analysis expected the S&P 500 to trend downwards for Thursday’s session. We have seen a new low and the market has behaved as expected.

I still have two daily wave counts for you today which both expect the same direction next. For the main wave count I have two hourly wave counts today, with the second having a low probability. It should only be used if it is confirmed.

Continue reading S&P 500 Elliott Wave Technical Analysis – 28th June, 2012

S&P 500 Elliott Wave Technical Analysis – 27th June, 2012

Yesterday’s analysis expected downwards movement for Wednesday’s session which was not what happened. Within the first 5 minutes the main hourly wave count was invalidated with movement above 1,324.41 and the second hourly wave count was confirmed.

I still have two wave counts which expect the same direction next. Invalidation points are the same but targets are different.

Continue reading S&P 500 Elliott Wave Technical Analysis – 27th June, 2012

S&P 500 Elliott Wave Technical Analysis – 26th June, 2012

Yesterday’s analysis expected choppy overlapping upwards movement to either last for some or all of Wednesday’s session. Price has behaved as expected and remains very slightly below the invalidation point, with the upwards movement lasting for all of Wednesday’s session.

I still have two wave counts and the both expect exactly the same direction next.

Continue reading S&P 500 Elliott Wave Technical Analysis – 26th June, 2012

S&P 500 Elliott Wave Technical Analysis – 25th June, 2012

Last analysis expected Monday to begin the week with downwards movement. The target at 1,317 was comfortably passed, but I did expect that the target had only a reasonable probability and that the trend channel would provide stronger guidance as to where downwards movement would end. Price has come close to the lower edge of the parallel channel on the hourly chart.

Mid term targets at intermediate degree and long term targets at primary degree remain the same.

Continue reading S&P 500 Elliott Wave Technical Analysis – 25th June, 2012

S&P 500 Elliott Wave Technical Analysis – 22nd June, 2012

Thursday’s analysis expected Friday’s session to begin with a little upwards movement for a low degree correction, which is exactly what happened. Price has remained below the invalidation point on the hourly chart.

The wave counts remain the same and both my main and alternate counts expect the same direction of movement next. The two wave counts differ only in the structure expected so I will be paying close attention to this.

Continue reading S&P 500 Elliott Wave Technical Analysis – 22nd June, 2012

S&P 500 Elliott Wave Technical Analysis – 21st June, 2012

Yesterday’s analysis expected one final upwards push before a trend change. However, this was not what happened. The channel on the daily chart is clearly breached and now I can calculate targets for the mid term.

This is the point at which the two wave counts diverge. They both expect the same direction in the short term, and we shall have to pay close attention to structure to see which wave count is correct.

Continue reading S&P 500 Elliott Wave Technical Analysis – 21st June, 2012