SP500 Elliott Wave 9 December 2019
SP500 Technical Analysis Elliott Wave and Trading Levels
S&P500 Overview: Bulls are still in control of this trend, expect new highs
S&P500 Elliott Wave Analysis: Today I take a look at the bigger picture bullish Elliott wave count and the Bearish Elliott count on the daily chart.
Professionally speaking its important not to get lost in something you don't know, when it comes to trading, you need to stay with the evidence and manage the risk.
I know the last move down is in three waves, so that is bullish corrective and therefore new highs will be made according to the Elliott wave principle.
SP500 Trading Strategy: With the last move down being in three waves, corrective, we could afford to trade long and we did at 3120 and have raised the stop loss order into profit at 3133.
It is a wide stop, however we need to give the market some room to move through the next trading level the mid point 3150 as we can expect a Classic Trading levels pattern across this level.
Simply put the SP500 needs to migrate from being resistance to support across the 3150. The next level is sub group 2 (SG2) SG2|3165|3172|3180 followed by Minor level2 mtl2|3200 our second target.
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Education: Elliott Wave Structures
Elliott degrees in order: Grand Super cycle wave, Super cycle wave, Cycle wave, Primary wave, Intermediate wave, Minor wave, Minute wave, Minuette wave and Subminuette wave.
Elliott Wave News SP500 (SPX) NASDAQ (NDX)
This Elliott Wave Analysis is suitable for tracking the QQQ, dow jones DJI DJIA Emini (ES) SPY Futures Index, this video uses Contracts for Difference (CFDs) known as CFD Trading indices / Index trading.Technical Analysis Elliott wave and Trading Levels.
E-mini ES SPY Futures Index
S&P 500 E-Mini Futures Trading/ S&P 500 E-Mini Futures
S&P 500 Technical Analysis
S&P 500 News
Trading indices / Index trading. Technical Analysis Elliott wave and Trading Levels.
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