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

The first target at 2,481 to 2,482 was met and passed by 2 points early in the session. Summary: We should always assume the trend remains the same until proven otherwise. While it is possible today that primary wave 3 may be over, assume that it may continue higher...

S&P 500 Elliott Wave Technical Analysis – 25th July, 2017

Sideways movement was expected as most likely for Tuesday, but this is not what happened. Upwards movement has made a new all time high, but the session closed red. Summary: The trend is up. Trading with the trend is the safest approach for your account. Use...

S&P 500 Elliott Wave Technical Analysis – 24th July, 2017

Upwards movement within a small range fits both hourly Elliott wave counts. Both VIX and the AD line today exhibit some divergence with price. With this divergence for both indicating the same direction, they both point to which hourly Elliott wave count may be more...

S&P 500 Elliott Wave Technical Analysis – 17th July, 2017

A very small inside day leaves the Elliott wave counts mostly unchanged. Summary: In the short term, volume and divergence with the AD line suggest a green daily candlestick tomorrow and a new all time high. The profit target is at 2,478. The upwards trend has...

S&P 500 Elliott Wave Technical Analysis – 10th July, 2017

Downwards movement was expected for Monday. This did not happen, but price has remained below the invalidation point on the hourly chart and at the end of Monday’s session has returned to within the channel. Summary: A strong bullish signal today from On Balance...

S&P 500 Elliott Wave Technical Analysis – 28th June, 2017

A downwards day was expected for Wednesday, but this did not happen. Upwards movement invalidated the hourly Elliott wave count. Summary: Expect now a multi week to multi month pullback has begun. The target zone for it to end is about 2,400 to 2,322. Expect downwards...

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. Summary: While we should always assume the trend remains the same until proven otherwise,...

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. Summary: Assume the trend remains the...

S&P 500 Elliott Wave Technical Analysis – 22nd June, 2017

Yesterday it was noted that bullish divergence in both VIX and market breadth suggested an upwards session for Thursday. This is what has happened. Summary: Assume the trend remains the same, upwards, until proven otherwise; while price remains above 2,422.88, assume...