Tag Archives: S&P 500

S&P500 And USDCHF Intra-Day View

Grega Horvat

Stocks are much higher following better than expected US NFP reports on Friday, when E-mini S&P500 broke above 2760 resistance that we kept an eye on. Notice that index is actually today above Feb 27 high so it appears that recovery is still here and it may continue until it makes five wave up from 2648. Currently we see intraday bullish trend while price is above 2731/2740 area, aiming for 2830. more…

SP500 Adam And Adam Double Bottom Pattern In Progress

Nenad Kerkez

The SP500 has formed Adam and Adam double bottom pattern. Adam pattern is very similar to a W shaped reversal pattern except for the two related bullish spikes that distinguish the pattern from the W bullish. Point 1 and Point 3 form the basis while point 2 is a continuation point. The POC is formed within 2688-2700 zone and the price could spike from the zone towards 2727 (point 2). A 4h close above 2727 should target 2772 followed by 2808 on a further bullish momentum. Only below W L4 – 2662 the price might turn neutral again. more…

S&P500 And DAX Trading Bearish

Grega Horvat

Stocks have turned nicely lower this week, with E-mini S&P catching the downside that occurred on DAX already last week, so it appears that both markets; US and Europe are now in a temporary weakness. Technically speaking we see more downside coming as decline on E-mini S&P500 turned out to be a five wave move from the top, so we know that weakness should resume after a three-wave rally. There is a nice resistance at 2844 from where new leg may occur. more…

SPX: More Upside Expected

Daud Bhatti

SPX Short Term Elliott Wave view suggests that Index is rallying as 5 waves impulse Elliott Wave structure from 12/2/2017 low. Up from 12/2/2017 low (2605.52), Minute wave ((i)) ended at 2665.19, Minute wave ((ii)) ended at 2624.75, Minute wave ((iii)) ended at 2807.54, and Minute wave ((iv)) ended at 2768.87. Index has since broken above Minute wave ((iii)) at 2807.54 suggesting that Minute wave ((v)) higher has started. more…

SPX Bullish Sequence

Daud Bhatti

SPX Short term Elliott Wave view suggests that the rally to 2664.58 ended Minor wave 1 as a Leading diagonal. Below from there Minor wave 2 ended as a zigzag correction at 2624.19 low, above from there Minor wave 3 remains in progress as a double structure. And showing the incomplete bullish sequence to the upside. The Minutte wave (a) of ((w)) ended in 5 waves at 2671.92 high. Where internals of that leg Subminutte wave i ended at 2633.72, Subminutte wave ii ended at 2626.32 low, Subminutte wave iii ended at 2669.68. Subminutte wave iv ended at 2663.68 and Subminutte wave v of (a) ended at 2671.92. Below from there, it ended the Minutte wave (b) 2651.78 low, above from there Minutte wave (c) of ((w)) ended in another 5 waves at 2695.38 peak and also ended the cycle from 12/06 low 2624.19 there. more…

SPX Elliott Wave Analysis

Daud Bhatti

SPX Short-Term Elliott Wave view suggests that the rally to 2597.02 ended Intermediate wave (3). Intermediate wave (4) pullback ended at 2557.45 as a double three Elliott Wave structure. Down from 2597.02, Minor wave W of (4) ended at 2566.33, Minor wave X of (4) ended at 2587.66, and Minor wave Y of (4) ended at 2557.45. Up from there, the rally appears to be unfolding as an impulse Elliott Wave structure. Minute wave ((i)) ended at 2572.84, Minute wave ((ii)) ended at 2563.3, and Minute wave ((iii)) ended at 2590.09. more…

Elliott Wave Analysis: German DAX, S&P500 And NZDUSD

Grega Horvat

Stocks and XXX/JPY pairs gaped nicely higher during the weekend, and it looks that more gains may follow soon on equity markets. We are looking at both; DAX and E-mini S&P500 which can be headed much higher this week as we see recent downward corrections completed. Dax is in impulse up, ideally within wave 3) headed up to 12500-12550, while S&P500 can be underway to new all-time highs as we called end of a wave b set-back already on Friday. more…