• 4 hours Crypto-Mining Immigration Could Be The Start Of A New Trend
  • 2 days Hawkish Fed Sends Gold Prices Crashing
  • 3 days Bezos Is Heading To Space This Sunday
  • 6 days El Salvador’s Surprise Bitcoin Move
  • 9 days Markets Unfazed As Inflation Hits 13-Year High
  • 10 days How the Token Economy is Disrupting Financial Markets
  • 12 days FBI Investigating 100 Types Of Ransomware Attacks
  • 14 days Fed Ends Corporate Credit Emergency Lending Program
  • 16 days AMC Becomes the Latest Winning Meme Stock After GameStop
  • 17 days The Real Reason Your 401k Has Been Lagging
  • 18 days China Lifts Cap On Births, Allows Three Children Per Couple
  • 20 days The Market Is Ripe For Another GameStop Saga
  • 23 days Senate Grills Big Banks Over Pandemic Opportunism
  • 24 days Cannabis Has A Major Cash Problem
  • 25 days Ransomware Netted Criminals $350M In 2020 Alone
  • 26 days Russia Is Taking On Google
  • 27 days Chinese Regulators Deal Another Big Blow To Bitcoin
  • 28 days Ohio Residents Brave Vaccine for Chance To Win $1M
  • 30 days Inflation Is Coming. Are You Prepared?
  • 31 days Travel Might Get Another Supersonic Disruption
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…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  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