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...

S&P 500 Elliott Wave Technical Analysis – 10th October, 2016

A green daily candlestick was expected for Monday, which is what happened. The short term triangle on the Elliott wave count remains valid. Summary: A red daily candlestick may unfold tomorrow within the sideways triangle, which continues. When sideways movement is...

S&P 500 Elliott Wave Technical Analysis – 7th October, 2016

A red daily candlestick was expected for Friday, which is what happened. The short term triangle on the Elliott wave count remains valid. Summary: In the short term, Monday may print a green daily candlestick, or possibly a doji. Overall sideways movement Monday may...

S&P 500 Elliott Wave Technical Analysis – 25th August, 2016

Price moved sideways to complete another small daily doji candlestick. Both Elliott wave counts remain valid. The S&P is today giving conflicting signals from volume, On Balance Volume, and VIX. Summary: On Balance Volume today is giving a bearish signal and VIX...

S&P 500 Elliott Wave Technical Analysis – 3rd August, 2016

The main Elliott wave count expected upwards movement for Wednesday’s session, which is what happened. Summary: This pullback is more likely to be over than to continue lower. A new high above 2,178.29 would add confidence to this view. Alternatively, a new low...

S&P 500 Elliott Wave Technical Analysis – 13th July, 2016

Again, the two daily Elliott wave counts today are judged to have about an even probability. Assume the trend is the same, until proven otherwise. Summary: In the short term, assume the trend remains up while price remains within the channel on the hourly chart, and...

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

A small inside day remains below the invalidation point on both Elliott Wave hourly charts. Summary: A correction was still most likely over at the last high two days ago. A short term target for the next wave down is 1,987. Trading advice (not intended for more...