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
After an impulsive move from 12430 to 7511 we saw correction from 7511 to 10554 levels. Correction took the form of zig zag wherin A wave looks like leading diagonal followed by B wave (3wave move) and ongoing Wave C is near completion range. Now it looks like wave C will be followed by 5 wave downside impulsive move. So it is better to stay cautious with long...