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Elliott Wave Analysis: S&P500 Intra-day View

Usd index fell to a new low which caused a new leg up on major pairs, such as EURUSD, GBPUSD, AUDUSD, USDCAD and others. At the same time we can see strong energy markets, higher metals, and also quite strong stock markets. The only stock indexes that are lagging are coming from the US, but even those may catch a bid soon as we see E-mini S&P50 in a minor corrective set-back. We think that sooner or later S&P500 will be higher, retesting the highs, which may limit current gains on EURUSD, and downside on USDJPY.

S&P500, 30Min

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