S&P500 H1 & H4 Update

Bearish count on S&P500 has been invalidated so the correction is not over just yet.
As far as I can count the most suitable labeling is presented below. In Elliott terminology it is called Mixed Uprising Three Complex Correction ( labeling is different on pic but the same idea).

The target for this last wave Z is  somewhere 1448 - 1450 area.


Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-h1-h4-update_18.html

S&P500 H1 & H4 Update

Looks like very simple wave 2 correction is done inc. another trend line test.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-h1-h4-update_17.html

S&P500 H1 Update

Five wave impulsive structure from the top of wave Y need one more wave down.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-h1-update_14.html

S&P500 H1 & H4 Update

Bullish count has been invalidated and the recent leg up turned out to be in three waves abc making a top of wave 2  into 1438.75 level.
Nice impulsive progression so far, we will see what will happen next.


Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-h1-h4-update_13.html

S&P500 Futures H1 & H4 Update

Alternative count is likley only when green impulsive cycle is invalidated.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-futures-h1-h4-update.html

S&P500 H1 Update

No suprise here.


Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-h1-update_11.html

S&P500 H1 Update

So far, so good: we will see how this count goes.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-h1-update.html

S&P500 Futures Bulls and Bears Update

H1 is for Beras.
H4 is for Bears.
Daily is for Bulls.
Weekly is for Bears.

Interesting situation on Gann Fan chart: price action between two important lines.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-futures-bulls-and-bears-update.html

S&P500 Futures H1 Update

Still waiting for more impulsive action to the upside to finish wave Y because so far price action does not develop in impulsive way.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-futures-h1-update_7.html

S&P500 H1 & H4 Update

As noted erlier: buying into orange rectangle was profitable just need a little SL adjustment.
I'm still bullish on S&P500 becasue it needs one more wave up to finish the Double Zig-Zag.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-h1-h4-update.html

S&P500 Futures H1 Update

Double Zig-Zag still possible.


Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-futures-h1-update.html

S&P500 Futures H1,H4, D1 & Weekly Update + TPI

Rationale:

I had changed an outlook for this wave 2: right now it fit both counts for bulls and bears.
Fot Bulls it is Contracting Leading Diagonal Wave1 (5-3-5-3-5) that have not been finished yet. More upside to come.
For Bears it is a clear pattern for Double Zig-Zag Wave 2, that also need one more push to the upside.

Entry:
First level to consider buying is 1407 (former resistance turned support) but I preffer test of 50%Fibo of both the swings  and 1400 round number poximity - so buy the dips into orange rectangle.
SL: below 1395 (below 61% Ret)
TP1: min: 1420
TP2: 1430

take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/12/s-futures-h1h4-d1-weekly-update-tpi.html

S&P500 H4 Update

(a)(b)(c) as a corrective wave 2 looks  completed.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/s-h4-update_29.html

S&P500 Futures H4 Update + Trading Plan Idea

Rationale:
Buying into support  in anticipation of futher expansion of wave (c) or 3 to the upside.

Entry: Buy Limit 1407.
SL:1399
TP: 1421 min
R/R: 3:1


Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/s-futures-h4-update-trading-plan-idea.html

S&P500 Futures H4 Update

So far I got abc Flat Correction as a wave (b).

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/s-futures-h4-update_28.html

S&P500 Futures H4 Update

Looks like wave (b) is ready and market can make even deeper correction in wave 2.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/s-futures-h4-update_2381.html

S&P500 Futures H4 Trading Plan Idea

Rationale:
So far no new high on SP500 Futures and it looks this impulsive wave (a) has topped and now market might be forming a flat correction wave (b). If it is, the price should turn down to previous wave a area.

Entry:
Sell limit @ 1405
SL: 1407.50(or any new high)
TP: min.1395
R/R: 5:1

Take care,
Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/s-futures-h4-trading-plan-idea.html

S&P500 Futures H4 & Daily Update

Daily is for Bulls, H4 still for Bears.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/s-futures-h4-daily-update.html

S&P500 Futures Bears and Bulls Update

Weekly Chart is for Bears.
Daily Chart is for Bulls.
H4 Chart is for Bears.

Seb

Source | Elliott Wave NYSE And Forex Blog | http://elliottfxtrader.blogspot.com/2012/11/s-futures-bears-and-bulls-update.html