Stocks Indexes Are Down Today- Looking At SP500 and German DAX
E-mini S&P500 is also falling with German DAX, now breaking the support channel line, so it appears that big triangle on the S&P500 is still in play. On the intraday chart below we are tracking wave E) that can move into 2060-2070 support area this week. We expect a bounce from that region after a three wave set-back.
S&P500 (Sep 2015) 30min Elliott Wave Analysis
Stocks indexes are down today, with DAX breaking towards 10800 area which has been in view for the last few days as we anticipated a fifth wave down, final leg that can complete a larger impulsive decline this week. As such, we need to be aware of a bounce in days ahead, maybe already from around current levels as price trades into some important Fibonacci support zone.
DAX (Sep 2015) 1h Elliott Wave Analysis
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