S&P 500 Elliott Wave Technical Analysis – 21st June, 2017

Price remains above the invalidation point, but the closure of the last gap and price moving back down into the prior consolidation zone puts the breakout as false. The gap was a pattern gap and not a breakaway gap. Summary: Assume the trend remains the same, upwards,...

S&P 500 Elliott Wave Technical Analysis – 14th June, 2017

Price remains range bound, which was expected. Wednesday completed an outside day that closed red. Summary: Expect a sideways consolidation to continue this week and likely into next week as well. When it is done, it should offer a good entry point to join the longer...

S&P 500 Elliott Wave Technical Analysis – 26th May, 2017

A small inside day saw price move sideways for Friday, remaining within the channel on the hourly chart. Summary: The target is at 2,440 (Elliott wave target) to 2,448 (classic analysis target). Expect upwards movement to continue. Corrections are an opportunity to...

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

A new all time high at the open gap up invalidated the alternate Elliott wave count providing confidence in the main Elliott wave count. The target remains the same. Summary: The target is at 2,440 (Elliott wave target) in the first instance, and may be as high as...

S&P 500 Elliott Wave Technical Analysis – 11th May, 2017

A strong whipsaw moved below the short term invalidation point on the hourly Elliott wave count. However, downwards movement was quickly retraced and today’s candlestick looks very bullish. Summary: There is enough bullishness in the daily technical analysis to...