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 – 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...