Elliott Forecast - SPDR Consumer Staples ETF ($XLP) Reacting Higher from Extreme Area. | ResearchPool

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Elliott Forecast

Daud Bhatti

SPDR Consumer Staples ETF ($XLP) Reacting Higher from Extreme Area.

December 26, 2023 By

Hello everyone. In today’s article, we will look at the past performance of the 4H Hour Elliott Wave chart of SPDR Consumer Staples ETF ($XLP). The rally from 10.06.2023 low at $65.16 unfolded as 5 waves. So, we expected the pullback to unfold in 3 swings and find buyers again. We will explain the structure & forecast below:

$XLP 4H Elliott Wave Chart 12.20.2023:

Here is the 4H Elliott Wave count from 12.20.2023. We expected the pullback to find buyers at red 4 in a 3 swing structure (ABC) at 69.97 – 68.90.

$XLP 4H Elliott Wave Chart 12.24.2023:

Here is the latest 4H update showing the bounce taking place as expected. The ETF reacted higher after reaching the extreme area allowing longs to get a risk free position. We expect the ETF to continue higher towards $73.19 – 74.15 before a pullback can happen.

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Source:-forecast.com/stock-market/spdr-consumer-staples-etf-xlp-reacting-higher-extreme-area/

26/12/2023 2 EN

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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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Daud Bhatti

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