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Elliott Forecast

Eric Morera

Elliott Wave View: S&P 500 (SPX) Turning Lower

April 12, 2022 By

Short term Elliott Wave view in S&P 500 (SPX) suggests that the decline from January 4, 2022 is unfolding as a . Down from January 4 peak, wave ((W)) ended at 4222.62 and wave ((X)) ended at 4638.67. Internal of wave ((X)) unfolded as an expanded Flat structure. Up from wave ((W)), wave (A) ended at 4595.3, wave (B) ended at 4153, and wave (C) higher ended at 4637.3. This completed wave ((X)) in higher degree.

The Index has since turned lower in wave ((Y)). Down from wave ((X)), the decline shows a 5 swing in the form of a diagonal. Wave ((i)) ended at 4507.57 and rally in wave ((ii)) ended at 4583.5. Index then resumes lower in wave ((iii)) to 4450.04, and rally in wave ((iv)) ended at 4521.16. Expect wave ((v)) to end soon which should complete wave 1. Afterwards, Index should rally in wave 2 to correct cycle from March 30 peak before it resumes lower again. Near term, as far as pivot at 4638.67 high stays intact, expect rally to fail in the sequence of 3, 7, or 11 swing for further downside.

$SPX 60 Minutes Elliott Wave Chart

S&P 500 Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-sp-500-spx-turning-lower/

#elliottwave #trading #sandp500

12/04/2022 1 EN

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Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Eric Morera

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