Elliott Wave Analysis: S&P500 Intraday View

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E-mini S&P500 moved down to 2250-2255 area yesterday, where market found a support as expected after wave c down which might already completed a corrective price action based on recent bounce to 2270. We however still need break above upper channel resistance line to confirm a new leg up, towards 2290/2300.

 

 

 

S&P500, 1H

 

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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on http://www.ew-forecast.com/. This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.