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S&P 500 Elliott Wave Technical Analysis – 15th November, 2017

Downwards movement was overall expected, but it was expected that price should have a short term bounce first. Downwards movement is now choppy and overlapping, suggesting an Elliott wave diagonal may be unfolding.

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S&P 500 Elliott Wave Technical Analysis – 9th November, 2017

A sharp downwards movement today remained above the invalidation point on the main hourly Elliott wave count, and the long lower wick on this candlestick is interpreted as bullish.

Although bears were able to push price sharply lower, they could not hold the lows and they could not make a new swing low below the low of the 2nd of November.

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S&P 500 Elliott Wave Technical Analysis – 19th October, 2017

Bearishness between price and market breadth, VIX and RSI was the harbinger of a pullback that occurred during Thursday’s session.

Two Elliott wave counts illustrate now two possibilities for next movement, and classic analysis is used to determine the probability of each scenario.

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S&P 500 Elliott Wave Technical Analysis – 18th October, 2017

The short term Elliott wave count is changed but the target remains the same. A new alternate Elliott wave count with a new short term target fits continuing bearishness with indicators, notably market breadth, VIX and RSI.

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