A new low below 3,220.51 and the narrow channel about most recent upwards movement suggests a fourth wave correction may have arrived. Fibonacci ratios and the fourth wave of one lesser degree are used to estimate a target for support.

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Last analysis expected that a consolidation had begun. An upwards day, which has not made a new high, fits within a new potential trading range.

Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – December 4, 2019 →

A small inside day leaves the Elliott wave counts the same.

Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – November 11, 2019 →

Overall, upwards movement was expected to continue. With price now back close to resistance at the last all time high and showing a little weakness, the risk here of a small pullback is high. Fibonacci ratios are used to judge where a pullback may find support.

Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – October 17, 2019 →