S&P 500 "Elliot Wave Analysis"

S&P 500 "Elliot Wave Analysis"

Elliot Wave : 5 Wave Pattern

✅Wave 1,3 and 5 Effect direction of market

✅Wave 2 and 5 are counter move to Wave 1,3 and 5

✅Wave 2 never strike below Wave 1

✅Wave 3 is never the shortest

✅Wave 4 never enter Wave 1


Elliot Wave : Wave Structure

✅Wave structure takes place in two distinctive phases

✅The first phase is the Five Wave Structure know as Motive Waves

✅The second phase is the Three Wave Structure know as Corrective Wave

✅Motive and Corrective Wave together form the completed wave cycle of Eight Waves


Motive Wave : The below chart of S&P 500 has completed the 5 Wave structure

snapshot

Corrective Wave : The below chart of S&P 500 has been started to form 3 Wave structure

snapshot

Based on the wave analysis, we expect the S&P price to fall to $4105.

Happy Trading $$$$
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