• 746 days Will The ECB Continue To Hike Rates?
  • 746 days Forbes: Aramco Remains Largest Company In The Middle East
  • 748 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,148 days Could Crypto Overtake Traditional Investment?
  • 1,153 days Americans Still Quitting Jobs At Record Pace
  • 1,155 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,158 days Is The Dollar Too Strong?
  • 1,158 days Big Tech Disappoints Investors on Earnings Calls
  • 1,159 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,161 days China Is Quietly Trying To Distance Itself From Russia
  • 1,161 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,165 days Crypto Investors Won Big In 2021
  • 1,165 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,166 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,168 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,169 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,172 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,173 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,173 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,175 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: GOLD and SP500 Intraday

Markets are mostly moving sideways, especially the FX market. On stocks there is a different story, we have seen a quite nice recovery on S&P this week, but market can be just in temporary corrective rally as part of a bigger downtrend. We see three waves up from 1858 with five sub-waves in wave (c) so be aware of a bearish moves once/if 1882 swing support is taken out.

S&P500 (June 2014) 1h Elliott Wave Analysis

S&P500 (June 2014) 1-Hour Elliott Wave Analysis Chart

Ranged and limited price action is still the case on metals, and it seems that it may stay like this for till early next week. However, we are observing a triangle, now wave e) that is final leg within this pattern, so we suspect that break will occur till the end of May, ideally to the downside. For the short-term swings, we now expect a drop down, close to 1285/87 region.

GOLD 1h Elliott Wave Analysis

GOLD 1-Hour Elliott Wave Analysis Chart

 


Interested in our analysis? Get now 1 month of full service for just 1€. http://www.ew-forecast.com/service

 

Back to homepage

Leave a comment

Leave a comment