In this Clip, I am describing the long and short-term Elliott wave analysis on the S&P500.
I forecast a temporary bounce on the index, but there are two conflicting views on the intermediate-term future of the market. I am staying out, not placing further trades until at least a 32.8% (FIbonacci number) corrective bounce of the recent drop from the highs. At that time, I should be able to decide between the two scenarios.
http://www.pathometrix.com/Movies/SPX5.mov
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1 comment:
Juan,
Thanks for the analysis on this.
I can't make my mind up either on this one. In fact recently, when I try to predict I get it wrong. **Smiles**
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