Stocks Look For Higher: Elliott Wave Analysis

By: Gregor Horvat | Fri, May 15, 2015
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German DAX is in a pullback mode from yesterday highs, but moves are much slower compared to rally from 11228 so we suspect that current intraday weakness represents a corrective decline and that broken trendline could then turned into a support at 11440-11500 area, either today or early next week.

DAX (June 2015) 1h Elliott Wave Analysis

DAX (June 2015) 1-Hour Elliott Wave Analysis Chart

Futures contract on the S&P500 hit new highs yesterday so we expect more upside soon. Ideally we will see price running into 2130 area where wave (c) could complete larger degree of wave 5. As long as trendline holds, we will not change our views, but break beneath that line and through 2091 would put highs already in place.

S&P (June 2015) 1h Elliott Wave Analysis

S&P (June 2015) 1-Hour Elliott Wave Analysis Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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