Elliott Wave Analysis On SP500 And German DAX
Below I am looking at the E-mini S&P500 where price fell to a new intraday low so we assume that's fifth wave of wave C) in progress now that can be headed to 2160/65 area. A turning point from there may follow; ideally in similar fashion like down from 2191 at the start of the week.
European shares are down sharply today, espeically those from UK as FTSE 100 index falls to 6775 few hours back. DAX also has made a sharp turn down from 10650 resistance which has momentum to reach lower levels. An updated count shows ongoing wave C decline to around 10330 region, where we would expect a bounce; ideally tomorrow.
German DAX, 1H