• 2 days How To Invest In The Cybersecurity Boom
  • 3 days Investors Are Patient With Unprofitable Giants
  • 5 days Wells Fargo Back In The Scandal Spotlight Once Again
  • 7 days 5 Stocks To Keep A Close Eye On This Year
  • 9 days As Auto Giants Flail, Look To Chip Stocks For Gains
  • 9 days Central America Is Ready For The Bitcoin Hustle
  • 11 days China’s Video Game Restrictions Unlikely To Slow Down Booming Industry
  • 12 days Top Performing Stocks As Inflation Fears Grow
  • 13 days US Airline Stocks Take A Beating On New EU Restrictions
  • 14 days This IPO Could Open Sustainable Fashion Floodgates
  • 15 days Crypto Crime Nets Another $2B Fraudster
  • 17 days This Week’s Hottest Meme Stocks
  • 19 days Why World Markets Should Be Watching Germany Closely
  • 21 days Could ‘Cultured’ Meat Rival The Plant-Based Megatrend?
  • 23 days ‘Easy Money’: Crypto Is Still Attracting Newbie Investors
  • 25 days Foreign Syndicates May Have Stolen Up To $400B In COVID Benefits
  • 26 days Gold Jumps Above $1800 Ahead Of Jackson Hole Summit
  • 26 days International Banks Blacklist Afghanistan Following Taliban Takeover
  • 28 days China’s Tycoons Are Getting A Serious Reality Check
  • 29 days U.S. Cannabis Space Heats Up With Telling Tilray Acquisition
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

SPX Elliott Wave View: Ending Wave 3 Soon

Short term Elliott wave view in SPX suggests that the rally from 1/23 low is unfolding as a 5 waves Elliott wave impulse structure where Minor wave 1 ended at 2301, Minor wave 2 ended at 2267.2, and Minor wave 3 remains in progress but close to ending. Internal of Minor wave 3 shows an extension and subdivided also as an impulse structure where Minute wave ((i)) ended at 2289.1, Minute wave ((ii)) ended at 2271.6, Minute wave ((iii)) ended at 2368.2 and Minute wave ((iv)) ended at 2352.6. Index has broken above the previous peak at 2368.2 suggesting Index is likely already in wave ((v)) of 3 towards minimum extension area of inverse 123.6-161.8% fib ext area of proposed wave ((iv)) at 2372-2378. Once wave 3 is complete, index should do a 3 waves pullback to correct the cycle from 2267.2 in Minor wave 4 before the rally resumes in Minor wave 5. We don't like selling the Index and expect buyers to appear again after Minor wave 4 pullback is complete in 3, 7, or 11 swing.


SPX 1 hour chart

SPX 1-Hour Elliott Wave Analysis Chart
Larger Image


Elliott Wave Degree

 


At Elliottwave-Forecast, we offer 24 hour coverage of 52 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 Trial to sample everything we have to offer.

 

Back to homepage

Leave a comment

Leave a comment