• 20 hours Silver Steadies Following Wild Week In Precious Metals Markets
  • 1 day $5 Million Gold Toilet Vanishes
  • 1 day Gold On The Rise After Fed Rate Cut
  • 2 days Oil Trader Loses $320 Million On Derivative Bets
  • 2 days S&P 500 Officially In An Earnings Recession
  • 3 days Miners Are Weathering The Trade War Storm
  • 3 days UK Credit Card Interest Rates Are Skyrocketing
  • 3 days From Frenzy To Flop, The Death Of This Year’s Most Hyped IPO
  • 4 days Are Smart TVs Spying On Us?
  • 4 days Is Fossil Fuel Divestment A Waste Of Time?
  • 4 days A Russian Billionaire’s Space Quest To Save Humanity
  • 5 days Markets Take Breather As Consolidation Continues
  • 5 days Economic Woes Weigh On Copper Prices
  • 5 days World's Largest IPO At Risk Following Drone Strikes
  • 5 days Gold Is Beating Buffett’s Berkshire Hathaway
  • 6 days What’s Behind The Silver Sell-Off?
  • 6 days The Retail Apocalypse Is Accelerating
  • 6 days The Top Tech Stocks Of The Year
  • 6 days America’s Workforce Elderly Workforce To Double By 2028
  • 7 days Toyota Tests Solar-Powered Prius
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On SP500 And German DAX

S&P500

S&P500 is in a pullback mode of a higher degree which is having a corrective personality because of small overlaps. This can be wave 2 that can be looking for a support around 2060. As such, we see current retracement down as temporary move within larger uptrend that may continue in the next 24 hours. We would change the view only if price would decline sharply back to 2000 figure which is now very far away.

S&P500, 1H

S&P500 1-Hour Chart


German DAX

German DAX is already back at the highs after the market made only a three wave set-back; a zigzag that completed wave 4) at 10480 at the start of last week. We are now tracking a new bullish impulse, which is wave 5 that can move even up to 11300-11400 area but after minor correction that can find a support around 10850-10900 area in the next few sessions

German DAX, 4H

German DAX 4-Hour Chart

 


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

 

Back to homepage

Leave a comment

Leave a comment