Preferred Elliott Wave view suggests rally to 11455 completed wave (( w )) and dip to 11186 completed wave (( x )) as a FLAT correction. Wave ((y)) ended at the top and best reading of the cycles suggests that this pull back would turn out to be another wave ((x)) finding buyers in 3, 7 […]

Preferred Elliott Wave view is calling for more upside in the Russell Index. As pivot at 1190 low holds, focus remains on 1240 – 1251 area to complete a cycle from 1.16 low i.e. wave (W). Best reading of shorter cycles suggests wave (x) is unfolding as a FLAT and once completed, we expect a […]

SPX Index made a new high above 12/29 peak which opens another extension higher from 10/15 low. Move up from 2080 low is also taking the form of a (( w )) – (( x )) – (( y )) Elliott wave structure when Index is ending the 5th swing. Area between 2098 – 2111 […]

Preferred Elliott Wave view suggests Index has ended a cycle at least from Mid-October low and perhaps a larger daily cycle as well. Initial decline from the highs was in 3 waves that we have labelled as wave (( w )) and ended at 2034. After that we saw a sharp recovery to 2060 followed […]

SPX500 cycle from Mid-October low is mature and expected to end soon. Index has met minimum requirements of the structure which makes it even more vulnerable but we don’t like to pick tops or bottoms in Elliottwave-Forecast and the fact that Index provided divergence in RSI with the new low we saw today, we still […]

In our previous chart of the day updates posted on December 1 and December 2 , we were expecting the Index to rally and find buyers in the dips. Index pulled back in wave (b) as per preferred Elliott wave view and we think it’s over at 6665. Near-term focus is on 6780 – 6807 […]