Short-Term Weakness On Indices: SP500 And Nikkei Elliott Wave Analysis
The US stocks were moving lower yesterday with the E-mini S&P500 down to 1841 level. Since then market recovered a few points but it looks like it can be a correction within ongoing downtrend. Intraday trend is down as long as 1865 holds.
S&P500 (June 2014) 30min Elliott Wave Analysis
From a risk-off perspective we see much clearer pattern on Nikkei futures. We see three waves up and done, followed by an impulsive sell-off which means that trend is down and should resume after a corrective bounce. We see that bounce in play right that should complete a corrective rally sometime this week, ideally around 1420/70 area.
Nikkei225 (June 2014) 4h Elliott Wave Analysis
Written by www.ew-forecast.com
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Author: Gregor Horvat
Gregor Horvat
www.ew-forecast.com
Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.
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