GOLD and SP500 Intraday: Elliott Wave Analysis

By: Gregor Horvat | Mon, Nov 10, 2014
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A strong move occur on Friday which must be an impulse, while slow and sideways move in three legs are corrections. Well, we can see a nice pullback from the high which has a corrective look, so it can be wave (iv) as part of an incomplete five wave rally up in wave A/1 that can be targeting 1190. A break above red wave b) high will open door for a new high.

GOLD 30min Elliott Wave Analysis

GOLD 30-minute Elliott Wave Analysis Chart

Markets did not move much in the last couple of hours, but they are in risk-on mode it seems with lower USD and higher stocks. On the E-mini S&P500 we see a sideways price action that looks like a triangle placed in a fourth wave so market could continue to a new high in the next 24 hours and possibly even extend to 2040 while 2020 stays in place.

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

S&P500 (December 2014) 1-hour Elliott Wave Analysis Chart


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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 He also is founder of forex services on provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website:

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