SP500 Looks For Lifetime High, German DAX Follows

By: Gregor Horvat | Fri, May 22, 2015
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A three wave decline from the highs and down to 2114 is corrective pattern that is pointing to new highs especially if we also consider a five wave rise to around 2131 recently. As such, we believe that sooner or later the futures contract on S&P500 will reach new all-time highs.

S&P500 (June 2015) 1h Elliott Wave Analysis

S&P500 (June 2015) 1-Hour Elliott Wave Analysis Chart

German Dax stays sideways for now as market can be forming a triangle pattern, so despite a different wave count we see bullish pattern unfolding. That said, we will continue to look higher in sessions ahead, above 11900 level while 11762 support is not breached.

DAX (June 2015) 1h Elliott Wave Analysis

DAX (June 2015) 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

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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