Elliott Wave Analysis On German DAX And SP500

By: Gregor Horvat | Thu, Feb 25, 2016
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German DAX

Bounce on DAX to 9400 today looks like a clear three wave move, so it can be wave b as part of incomplete corrective set-back. That said, we need to be aware of another leg down, ideally into gap area since Feb 15 where index may turn bullish again after the gap is filled. At the moment it can be too soon for any bullish continuation, but we will look for reversal signs for sure, once our support levels are meet.

German DAX, 1H

German DAX 1-Hour Chart


S&P500

E-mini S&P500 is turning slightly down from 1936 so looks like that another leg down is in play for 1919 or even 1910 before futures contract may finally find a support and turn up for new impulsive recovery. We will look higher once a-b-c is completed.

S&P500, 15 Min

S&P500 15-Minute 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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