New York time: 00:00:00
Local time: 00:00:00
Newsletter RSS 

Elliott Waves: Stock Market On The Rise; But Be Aware of Pullbacks


Our Services             NEW!!Elliott Wave School

Feb 22 2019

Hi traders,
S&P500 has been trading in a corrective decline since September of 2018, and it unfolded a three-wave drop within higher degree wave IV). We can see that wave IV) found a base at the 2324 level, from where a new impulsive recovery is unfolding; its known as a continuation of an uptrend, so we assume that new all-time highs can be coming. However, nothing moves in straight line, so be aware of a pullbacks and ideally current rise will look for a temporary limited upside near the 2813 level, where former swing high can react as resistance. Nice support for any reversal lower can be around 2600/2650.

S&P500, Daily

German DAX is trading similar as the S&P500, now ideally unfolding a minimum recovery in three-waves from the 10282 level; move that can resume towards 11700 as first upward objective and then to 12k. Nice support for DAX on any deeper pullbacks can be around the 10800.

German DAX, Daily


Newsletter archive