Description
⋅ S&P 500 "Elliot Wave Analysis"
Elliot Wave : 5 Wave Pattern
✅Wave 1,3 and 5 Effect direction of market
✅Wave 2 and 5 are counter move to Wave 1,3 and 5
✅Wave 2 never strike below Wave 1
✅Wave 3 is never the shortest
✅Wave 4 never enter Wave 1
Elliot Wave : Wave Structure
✅Wave structure takes place in two distinctive phases
✅The first phase is the Five Wave Structure know as Motive Waves
✅The second phase is the Three Wave Structure know as Corrective Wave
✅Motive and Corrective Wave together form the completed wave cycle of Eight Waves
Motive Wave : The below chart of S&P 500 has completed the 5 Wave structure
Corrective Wave : The below chart of S&P 500 has been started to form 3 Wave structure
Based on the wave analysis, we expect the S&P price to fall to $4105.
Happy Trading $$$$