This brief projection is based on a full study of the current Intermediate Wave 1 I am tracking for the S&P 500 index. We will see upward movement to begin the week with a top in the afternoon on July 2, 2019. We will likely drop 5-10 points into the close on this day. The light blue numbers with parentheses around them represent each wave's end point for the...
March 4, 2019 saw an engulfing pattern in the candlestick chart for the S&P 500 . Engulfing patterns are not rare, but one that engulfs the the price range for the prior 6 trading sessions is something to understand. I went back and found this same event (engulfing a minimum of 6 prior trading sessions) has occurred in the market only 15 times in the last 40...
I have classified the current downturn as a Primary wave 2. This should be an ABC corrective wave. These waves last half the length of time that Primary wave 1 did. All my acquired data dates back to 1932 where I believe our current market Grand Supercycle run began. Based on primary wave 1 lasting 86 days, wave 2 could last around 43 trading days from May 1,...
I have marked roughly were I believe today's market is in relation to the 'Great Financial Crisis of 2008'. Each chart depicts: A blue star for a top in the market Followed by a low - marked with the number 1 Followed by the final market top - marked with the number 2 Followed by the first bottom of declines - marked with the number 3 And today's current...
I wrote about the coming Quad Top resistance point a few days ago (linked to this Idea). I said it would present itself within the next few days and it has done so today. The question is what will occur over the next few days? We have also hit the 200 day SMA again (we bounced off it a week ago). Will we push higher through this too. As my previous idea stated....
There have been 5 occurrences of quad tops in the S&P 500 since 2000. Each top bounced off a resistance trend line four times. The fourth bounce resulted in steep declines for the index. The index is about to test this theory within the next 3-7 trading days as it nears the trend line on the chart above. Could it be a coincidence? Sure, but what is keeping this...
Pending Order: Buy USD/CHF @ 0.9907 TP: 0.9919 SL: 0.9895
The drop today was expected. We have just started minute wave 3. We will take out the recent top and most likely see our next reversal between 2830-2870 over the next 2-4 trading days. Check out all in-depth analysis on my site. Still looking for market top by mid-November above 2950-3000. The wild ride is not over yet.
Intermediate wave 3 has lasted 67 trading days, but the latest bull run appears ready for a break. I have conducted derivative analysis on all of the movement in this super cycle wave 3 to identify where the next bottom will occur. It appears set to occur by October 24, 2018. The following are potential turning points for this bottom. I have bolded the most...
I keep narrowing my projection for the top of the market as more days elapse and more data comes in. I have been contrarian to the 'pundits' and still strongly believe the market will top before the end of 2018. I am right now projecting a near-term top to occur by the end of this week or beginning of next week around 2930. This will wrap up intermediate wave 3...
After an extended downtrend to begin the month. The markets are set to break out of the natural funk. If minute wave 4 ended last week, we are moving up for minute wave 5. Since my original projection, the target movement levels and days for this movement to occur have not shifted too much. I forecast the top to occur AFTER the index breaks above the red trend...
Minute wave 4 should be over, but confirmation is still forthcoming. The blue circle in the middle of the chart will be the key determining factor. Minute wave 4 has thus far been in a tight trend channel. Minute wave 5 would be active if the line of resistance (red line) is broken through. Once this occurs, the top could be between 2928.92 - 2963.80. Based on...
Based on today's movement, the diversion in the moving average I track confirm the index still has room to drop. Good news has the bottom tomorrow. Bad news, the bottom is still one day away. I will update my article on the top of minute wave 5 once 4 ends. Bottom appears to be between 2868 and 2876. Not far, but will be quick. Stay tuned for more!
I am back with another Elliott Wave Forecast on the S&P 500 Index . After detailed research and analysis, I identified the recent bottom, which occurred today, ahead of time. I have identified the next top. I have identified 3 colored polygons. The green zone will most likely contain the top, but the yellow polygon is also possible. The red zone is unlikely, but...
The S&P 500 Index dropped as projected in my August 29, 2018 article. However, the full projected drop has not been achieved. This could be okay, because the projection did not have the bottom occurring until the day after Labor Day, September 4, 2018. The movement over the previous two days has been interesting and my original analysis has reached a fork in the...
Based on derivative analysis. I am projecting Minute wave 3 just completed and we have entered the corrective wave 4. The wave should end over the next 2.5 trading days. I project the bottom will occur within the first 2.5 hours on September 4, 2018. The bottom should also occur between 2870.91-2886.50. All of these targets are based off of the moves that have...
We have been following Micron closely and waiting for wave C to complete. It has and we are positioned for big gains over the next 5-12 months. This movement will outlast our projections for the major markets. What are the reasons for the rise, tops and drops? Our guesses align with trade, and politics. Our full analysis is at Elliott Wave Ideas dot com.
The S&P 500 is finally ready to break out and achieve record closes once again. I have identified the zone before the next pullback. The next near-term top should occur by August 23 above 2900. The green box is my starting zone for the top. The black bordered polygon will most likely contain the top. There is strong resistance in this polygon. A short drop should...