"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 10 hours Meet The Hedge Fund Billionaires Club
  • 11 hours The Next Housing Crisis Could Be Right Around The Corner
  • 12 hours Cartel's, Pirates And Corruption Cost Mexico $1.6 Billion Per Year
  • 13 hours Africa’s Fastest Growing Economy
  • 14 hours The Blockchain Boom Hits The Utilities Sector
  • 16 hours Why Smart Money Is Selling Off Right Before The Bell
  • 18 hours Tech Giants Rally Ahead Of Earnings Reports
  • 1 day Global Debt Hits 225% Of GDP
  • 1 day The World’s First Trillionaire Will Be A Space Miner
  • 1 day How Student Debt Could Cause The Next Real Estate Crisis
  • 2 days This $550 Billion Industry Is Betting On Bitcoin
  • 2 days One Commodity Set To Soar On Russian Sanctions
  • 2 days China’s New Car-Market Rules
  • 2 days Oligarch Risk: The New Red Flag For Investors
  • 2 days Five Things To Consider Before Investing In An IPO
  • 2 days Investors Bullish As Earnings Season Kicks Off
  • 2 days Nearly One-Third Of U.S. Lottery Winners Declare Bankruptcy
  • 3 days Is Facebook Still A Buy?
  • 3 days Will Blockchain Stocks Ever Bounce Back?
  • 3 days Geopolitical Tensions Fail To Boost Gold Prices
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…

More Info

SPX Elliott Wave View: Wave 4 Started

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 is proposed complete at 2371.5. 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. Unless we are still in Minute wave ((iii)) of Minor 3, the Index could have started the Minor wave 4 pullback to correct the cycle from 1/31 cycle Minor wave 2. Target for Minor wave 4 pullback is towards 2352-2345 area before finding buyer's again for resumption of trend higher into the proposed Minor wave 5 of A towards 2378-2406 area, provided that pivot at 2267 low remains intact. Afterwards index is expected to start a larger 3 waves pullback in wave B to correct the cycle from 1/23 low. We don't like selling the Index and expect buyers to appear after Minor wave 4 pullback is complete in 3, 7, or 11 swings.


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