S&P 500 makes this rally...

Elliott Wave Analysis: S&P 500
Alter

Alter

S&P 500 

The S&P 500 made a five-wave rally from the 2802 level, which can now be followed by a temporary three-wave correction with possible support and bounce around the 2830/2823 area. A later rally above the 2850 level will suggest a completed correction and more upside.


S&P 500, 30-min

About the Author

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com.