S&P 500 "Elliot Wave Analysis"

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 $$$$