Technical Analysis

Elliott Wave Analysis: S&P500 Showing First Signs Of A Completed Correction; More Weakness To Follow

Typography

S&P500 is showing us first signs of a completed higher degree three wave correction, that was recognized in wave B or 2. Well, current fall suggest that more weakness may in store for the S&P and ideally in a five wave sequence. That said, a break beneath the 2359 region would indicate a completed correction and more weakness to follow.

S&P500, 1H

About the Contributor
Elliott Wave Financial Service
Author: Elliott Wave Financial ServiceWebsite: http://www.ew-forecast.com/
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.
More from the contributor