S&P 500 Elliott Wave Technical Analysis – 2nd June, 2017

Upwards movement was expected. The Elliott wave target has been reached, but the classic technical analysis target using the measured rule has not yet been reached. Summary: The target for a third wave is met and the structure is complete. If price keeps rising, then...

S&P 500 Elliott Wave Technical Analysis – 12th May, 2017

A small inside day leaves the analysis mostly the same. The strong floor of support about 2,377 continues to hold. Summary: Support should hold and next week should see new all time highs. The target remains at 2,459 or 2,469. However, ADX on the weekly chart remains...

S&P 500 Elliott Wave Technical Analysis – 4th April, 2017

Upwards movement was expected for Tuesday’s session. The session completed a green daily candlestick, but it was an inside day with no new high. Summary: A little downwards movement may unfold for one to three sessions. Price should remain above 2,322.25. If...

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

Downwards movement continued, as expected, and found support at three different trend lines. Summary: It is reasonably likely that downwards movement may halt here because price is at multiple support lines and exhibits bullish divergence with the AD line. A new high...

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

A new all time high confirms the main Elliott wave count and invalidates one alternate. Some more confidence may now be had in the targets. Summary: The target is 2,338 for the short term and 2,382 for a longer term trade. The invalidation point is moved up today to...

S&P 500 Elliott Wave Technical Analysis – 23rd January, 2017

Downwards movement was expected, but it remains within the prior range of sideways movement. There has been no breakout yet. Summary: Some downwards movement to find support at the lilac / purple trend line is expected. If this correction ends in a total Fibonacci 34...

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

Although today’s daily candlestick closed green, it made a lower high and a lower low (which is the definition of downwards movement). This was expected for the Elliott wave count. The short term resistance line on the hourly chart neatly showed where upwards...

S&P 500 Elliott Wave Technical Analysis – 21st December, 2016

A downwards day remains within the small pattern forming. Summary: A small pennant pattern may be completing, the target would be about 2,359 (measured rule) or 2,473 (Elliott wave). However, ADX is still extreme in the short term at the daily chart level, and VIX is...

S&P 500 Elliott Wave Technical Analysis – 8th December, 2016

Upwards movement continued as expected. Summary: There are two days in a row of strong divergence between price and VIX, and now RSI is overbought and Stochastics shows some divergence while extreme. These indicators point to a downwards day here to start a short...