Short term Elliott Wave structure suggests Index ended wave X bounce at 10340. Decline from there is unfolding as a double correction where wave (W) ended at 9226.15 and wave (X) bounce is proposed complete at 9808.77. Near term wave (a) is expected to complete at 9353 - 9511 area, then it should bounce in wave (b) before Index resumes lower. As far as 9808.77 pivot stays intact during wave (b) bounce, we favor the Index to continue lower. We don't like buying the proposed wave (b) bounce.
At EWF we offer 24 hour coverage of 50 instruments from Monday - Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer.