Elliott Wave Analysis On 10 Year US Notes And SP500

By: Gregor Horvat | Thu, Jul 21, 2016
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10 Year US Notes

10 Year US Notes are trading at new low, but this may be only a spike in wave B that is part of an ongoing correction. We are still waiting on a completed A-B-C  structure, which is now a flat, so price can rally back to 132,00 level before downtrend resumes.

10 Year US Notes, 1H

US 10-Year Noyes 1-Hour Chart


S&P500

S&P500 is trading at the highs, so we see a completed red wave 4) at 2152 as a triangle. That said a new five wave bullish structure can be underway within red wave 5). If we are correct then strong leg up in sub-wave 3 is around the corner. We remain bullish as long as price is trading above 2152; break beneath that level will suggest that the red wave 5) is already finished.

S&P500, 1H

S&P500 1-Hour 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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