• 2 days America's Semiconductor Shortage Is Just Getting Started
  • 2 days America's Semiconductor Shortage Is Just Getting Started
  • 5 days The EU Begins Backtracking On China Trade
  • 6 days Americans Are Sick Of Unfair Taxation
  • 8 days No Jab, No Job: The New Hardline Policy of U.S. Employers
  • 10 days What’s Included In Biden’s $6 Trillion Economic Plan?
  • 11 days The “Great Car Comeback” Brightens Oil Demand Outlook
  • 12 days The 3 Most Profitable Covid-19 Vaccine Stocks
  • 14 days Beijing Launches Digital Currency To Break AliPay-WeChat Duopoly
  • 15 days The New Economic World Order After Covid-19
  • 19 days 3 Signals To Watch For A Stock Market Correction
  • 21 days Netflix Earnings Red Alert: Subscriptions Could Underwhelm
  • 22 days Wall Street Banks Are Back
  • 22 days Elon Musk’s SpaceX Scores Big Win Over Jeff Bezos’ Blue Origin
  • 23 days Which Country Is The World’s Largest Investor In Batteries?
  • 24 days Are Bitcoin’s Environmental Risks Overblown?
  • 25 days Why The Gold Rush Ran Out Of Steam
  • 27 days Coinbase IPO Explodes, But Fails To Keep Its Momentum
  • 28 days China Slaps Alibaba With Record $2.75B Antitrust Fine
  • 29 days The Pandemic Has Culled The Middle Class
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

SP500: More Gains Are Expected

S&P500 moved nicely to the upside in the last few trading days and hit our 1970 projection as upward minimum objective. But notice that move up from yesterday was very strong so looks like market can be in wave 3 of a five wave move. If that's correct then price is headed back above 2011 for wave C) that represents final leg within a flat correction. If from any reason market will turn back down beneath 1928 then wave (B) can also be a triangle.

A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott pattern.

Basic Flat Pattern:

Elliott Wave Idealized Basic Flat Pattern

S&P500, 4h

S&P500 4-Hour Chart

 


If you like our trading ideas, you can visit our website at --> www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment