Short Term Elliott Wave view in SPX suggests the rally from 3/27 low (2322.2) ended at 2403 as a leading diagonal Elliott Wave structure where Minute wave ((i)) ended at 2378.3, Minute wave ((ii)) ended at 2328.95, Minute wave ((iii)) ended at 2398.16, Minute wave ((iv)) ended at 2379.75, and Minute wave ((v)) of A ended at 2403. Near term, while bounces remain below there expect the Index to pull back in larger degree 3, 7, or 11 swings to correct cycle from 3/27 low before the rally resumes again. We don’t like selling the Index and expect buyers to appear after 7 or 11 swings pull back for extension higher. This view remains valid as far as pivot at 3/27 (2322.2) low remains intact.
FWP Network > Forexhound.com > Analysis > Stock Market Analysis > Indices > SPX Elliott Wave View: Pull back started
SPX Elliott Wave View: Pull back started
By Elliottwave-Forecast.com ()
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May 12, 2017
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Comments Off on SPX Elliott Wave View: Pull back started
Indices · Elliott Wave Theory, ElliottWave, ES_F, indices, SP500, SPX, SPY
Indices · Elliott Wave Theory, ElliottWave, ES_F, indices, SP500, SPX, SPY

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