Elliott Wave Analysis For E-mini SP500

By: Gregor Horvat | Tue, Sep 1, 2015
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Current three waves up from the low is not telling us a lot as this rally can be wave 4) of a bearish impulse, or it can be start of a new larger recovery back to around 2050-2100 area. Seems like we will have to wait either on 1923 break (daily close price) that will put new bearish leg in play, or on overlap with 2056 when price will confirm a bullish turn for the S&P500.

S&P500 4h Elliott Wave Analysis

S&P500 4-Hour Elliott Wave Analysis Chart

On intraday chart S&P500 made an overlap with 1923 with recent weakness which suggests that stocks could be headed lower again as rally from last week was made only in three waves. However, I would love to see a daily close price before we can confirm weakness. For the S&P500 the US trading hours will be important. US cash market just opened with S&P500, DOW and NASDAQ down nearly 2%.

S&P500 (Sep 2015) 1-Hour Elliott Wave Analysis

S&P500 (Sep 2015) 1h 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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