▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
The S&P 500 opened lower this morning, ultimately consolidating for a majority of the session. Surprising? Not really considering we’ve rallied over 10% from the Oct 30th lows & completed a textbook 5-wave advance. Although we do expect additional downside consolidation, we are watching this correction to ultimately resolve higher.
Believe it or not, the S&P 500, Dow Jones Industrial as well as the Russell 2000 has, from a technical perspective been in correction since January of 2018! At this point the only major US market index NOT in correction is the Nasdaq. Could this consolidation lead to a breakout which finally departs us from this multi-year consolidation effort?! We think so.
Tune in as I walk you though the expanding corrective pattern at work in the S&P, as well as review the overall Elliott Wave structure. And as always, don’t forget to join us weekly for our TA Live! Wednesday LiveStream show which we host on Todd Gordon’s YouTube channel every Wednesday at 8:45 AM EST.
Signup for a trial today @
Professional Stock, Forex & Crypto Market Analysis
__________________________________________
As the name implies, we are a provider of actionable market analysis and trade signals in the trading markets. Instead of focusing on short-term results with finding the perfect indicator or quick hacks, we think of trading as a boxing match that should be won with a decision after 12 rounds.
Using Elliot Wave Analysis and Fibonacci, we gain a trading edge by planning our trade, and trading our plan.
Our goal is to not only provide insightful analysis and trade alerts, but as the quote from the infamous trading classic states,
“We show you how to think and grow as a professional trader”
__________________________________________
#ElliottWave | #SPX | #SP500 | #Stocks | #Indices #Options #Crypto #Bitcoin #Forex #StockMarket #StockAnalysis
▶ Coinbase Website: Coinbase.com
▶ CEX Website: cex.io
Youtube version
