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 $$$$