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
www.ew-forecast.com

Gregor Horvat

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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