Category Archives: S&P 500

ES_F E-Mini S&P500 Elliott Wave: Ending Wave (iii)

Daud Bhatti

Short Term Elliott Wave view in ES_F E-Mini S&P500 suggests the rally to 2403.75 ended Minor wave A. Minor wave B unfolded as an Expanded Flat Elliott Wave structure where Minute wave ((a)) ended at 2379, Minute wave ((b)) ended at 2404.5, and Minute wave ((c)) of B ended at 2344.5. After ending the pullback, the Index started a new leg higher and the rally from 2344.5 low looks to be unfolding as a 5 waves Elliott Wave impulse structure where Minutte wave (i) ended at 2375, Minutte wave (ii) ended at 2361, and Minutte wave (iii) remains in progress and can reach 2423.13 or 161.8% fibonacci extension of Minutte wave (i). Expect Minutte wave (iv) pullback to start once Minutte wave (iii) is over before turning higher one more leg in Minutte wave (v). This last push higher will also complete larger degree Minute wave ((i)) and as impulse, it should be accompanied with momentum divergence. more…

S&P 500: Santa Rally Still Elusive As Stocks, Oil Tumble

Fawad Razaqzada

After a positive start, European stocks and US index futures have given up their earlier gains, potentially setting the stage for another ugly day on Wall Street. Unsurprisingly, crude oil is also getting smashed once again after last week’s renewed selling that was triggered first and foremost by the OPEC removing its production quota and then a couple of bearish oil reports from the cartel itself and also the International Energy Agency, with the latter now expecting the excess supply surplus to be eliminated not before the end of 2016. more…

S&P 500 Surging Towards Major Resistance

Fawad Razaqzada

US stocks were trading sharply higher Thursday, tracking the massive gains seen across the European markets after the ECB President Mario Draghi delivered a surprisingly dovish message at the much-anticipated press conference earlier today. Without going too much into any technical details, the long and short of it is that the ECB’s bond buying stimulus package could be beefed up as early as the Bank’s December meeting, while interest rates could also be cut to negative. Unsurprisingly, the euro tanked, while the higher-yielding currencies and stocks have rallied across the board. more…