Monthly Archives: October 2016

S&P 500 Elliott Wave Technical Analysis – 31st October, 2016

A small inside day printed a small red doji candlestick. The Elliott wave counts remain the same.

Some divergence today is noted between price and the AD line, and between price and VIX. This may assist to indicate the direction for tomorrow.

Continue reading S&P 500 Elliott Wave Technical Analysis – 31st October, 2016

S&P 500 Elliott Wave Technical Analysis – 28th October, 2016

A new low below 2,130.19 invalidated the main hourly Elliott wave count and confirmed the alternate hourly Elliott wave count.

At that stage, downwards movement was expected to move slightly below 2,124.43, finding support at the lilac trend line. Price found its low for Friday’s session right on the trend line.

Continue reading S&P 500 Elliott Wave Technical Analysis – 28th October, 2016

S&P 500 Elliott Wave Technical Analysis – 27th October, 2016

Upwards movement was expected for a green daily candlestick for Thursday’s session.

The session had a higher high and a higher low, but closed red.

Continue reading S&P 500 Elliott Wave Technical Analysis – 27th October, 2016

S&P 500 Elliott Wave Technical Analysis – 26th October, 2016

Last Elliott wave analysis expected Wednesday’s session to begin with a little downwards movement to end close to 2,140. Thereafter, it was expected that price would turn upwards.

The low for the session was 2,131.59. The session closed green although it made a lower low and lower high, so overall price moved downwards.

Continue reading S&P 500 Elliott Wave Technical Analysis – 26th October, 2016

S&P 500 Elliott Wave Technical Analysis – 25th October, 2016

A red daily candlestick was expected for Tuesday’s session, which is exactly what happened.

The short term target was at 2,145. The low for the day was 2,141.93.

Continue reading S&P 500 Elliott Wave Technical Analysis – 25th October, 2016

S&P 500 Elliott Wave Technical Analysis – 24th October, 2016

Upwards movement unfolded as expected for Monday’s session.

The main Elliott wave count today will have two hourly charts, a main and an alternate.

Continue reading S&P 500 Elliott Wave Technical Analysis – 24th October, 2016

S&P 500 Elliott Wave Technical Analysis – 21st October, 2016

Upwards movement was again expected and again failed to materialise.

The main Elliott wave count is still preferred.

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S&P 500 Elliott Wave Technical Analysis – 20th October, 2016

Upwards movement was expected from the main Elliott wave count for Thursday’s session.

This did not happen. Price moved lower and sideways to complete a small red doji.

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S&P 500 Elliott Wave Technical Analysis – 19th October, 2016

Downwards movement was expected for Wednesday, but it did not happen.

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S&P 500 Elliott Wave Technical Analysis – 18th October, 2016

Upwards movement was expected for Tuesday.

Price made a higher high and a higher low, and the daily candlestick closed green but only just.

Continue reading S&P 500 Elliott Wave Technical Analysis – 18th October, 2016