SP500 and DAX Elliott Wave Analysis

By: Gregor Horvat | Tue, Oct 28, 2014
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The S&P has a wedge pattern from 1918 refereed as an ending diagonal in wave five so bearish reversal can follow in the next few sessions for a new three wave decline, this time into a fourth wave of a higher degree.

S&P500 (Dec 2014) 1h Elliott Wave Analysis

S&P500 (Dec 2014) 1-Hour Elliott Wave Analysis Chart

Stocks are higher today, but on DAX we see only a three wave bounce from around 8832 so we suspect that move is corrective. We see it as wave b) that is part of incomplete three wave decline that is unfolding away from 9095. With that in mind, wave c) is still in view for a push back to 8800 before we may continue to look up again.

DAX 1h Elliott Wave Analysis

DAX 1-Hour Elliott Wave Analysis Chart




Gregor Horvat

Author: Gregor Horvat

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/

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