Elliott Wave Analysis On 10-Year US Notes And SP500

By: Gregor Horvat | Mon, Jun 6, 2016
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10-Year US Notes

After completing a three wave correction in B wave, Wave C now seems to be almost finished, as four sub-waves could already be viewed on the intraday chart. As we know wave C is an impulsive wave, which consist out of five sub-waves. Three of them, wave 1, 3 and 5 are impulsive, while the other two : 2 and 4 are corrective, with each having three more sub-waves.

As on this chart, we now believe that after wave iii is completed a minimum three wave correction may follow in wave iv, thus meaning that price may slow down a bit, before again searching for a new high in blue wave v.

10-Year US Notes, 4H

10-Year US Notes 4-Hour Chart


S&P500

On the intraday chart of S&P500 we are observing an idea of a completed flat correction that took place in the blue wave iv. A flat correction is a contra-trend movement, that consist of waves A-B-C with a 3-3-5 structure. As of recent bounce higher, we believe that correction may be over and that last leg v can be underway towards higher levels, ideally reaching 2018 levels.

S&P500, 1H

S&P500 1-Hour 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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