• 658 days Will The ECB Continue To Hike Rates?
  • 658 days Forbes: Aramco Remains Largest Company In The Middle East
  • 660 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,060 days Could Crypto Overtake Traditional Investment?
  • 1,065 days Americans Still Quitting Jobs At Record Pace
  • 1,067 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,070 days Is The Dollar Too Strong?
  • 1,070 days Big Tech Disappoints Investors on Earnings Calls
  • 1,071 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,073 days China Is Quietly Trying To Distance Itself From Russia
  • 1,073 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,077 days Crypto Investors Won Big In 2021
  • 1,077 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,078 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,080 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,081 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,084 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,085 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,085 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,087 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

E-mini SP500 Elliott Wave Analysis: Eyeing New High

S&P500 4h

S&P500 moved to the downside as expected; price fell into a third leg of decline counted from the highs which we think it represents a-b-c move, called a zigzag placed in wave iv). Price is now at 38.2% retracement area which comes in around that swing highs back from December that could turn into a nice support for a new reversal to the upside.

S&P500 4-Hour Chart


S&P500 1h

S&P Futures fell sharply to the downside yesterday, clearly in impulsive fashion, but don't turn bearish too soon; now it's time to be aware of a bigger picture. As you know we see current move down from the highs as a corrective retracement. Ideally it's a a)-b)-c) down in wave (iv) now at the support, so be aware of an impulsive bounce. A rise back above 1826 will put this market back in bullish mode.

S&P500 1-Hour Chart

 


Written by www.ew-forecast.com
14 days trial just for €1 >> www.ew-forecast.com/regiter

 

Back to homepage

Leave a comment

Leave a comment