A breach of the channel on the hourly chart indicated a small pullback may be underway.
Price remains above the invalidation point. Both short-term Elliott wave counts remain valid.
Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – October 31, 2019
Some downwards movement for the short term was expected for Tuesday, which is what has happened. The short-term target was at 2,920 or 2,896. The low for the session was at 2,892.71, which was just 3.29 points below the second target.
Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – October 8, 2019
For the short term, a pullback or consolidation was expected to begin on Friday. This is exactly what has happened.
Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – September 13, 2019
A small downwards day leaves both Elliott wave counts valid. Internal strength or weakness of the last few sessions is analysed to indicate which Elliott wave count looks most likely.
Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – August 20, 2019
An inside day remains above support and within the channel on daily and hourly charts. The Elliott wave count remains the same.
Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – July 25, 2019
Further upwards movement was expected. Elliott wave targets remain the same and the Elliott wave count has support from market breadth.
Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – July 2, 2019
Yesterday’s main Elliott wave count expected more upwards movement, which is exactly what has happened so far.
Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – June 6, 2019
A small range day moved price slightly higher. This fits the new short-term expectation for the Elliott wave count.
Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – May 14, 2019
A consolidation was expected to continue. A small downwards day closes as a Doji, which fits expectations.
Continue reading S&P 500: Elliott Wave and Technical Analysis | Charts – April 18, 2019