Elliott Wave Analysis of S&P 500 – 27 June 2012


Elliott Wave Analysis of S&P 500 – 27 June 2012

The move on the S&P 500 has been following the earlier published wave count. The five waves down has been completed and a corrective wave up is in progress. The correction has now entered the earlier target range of 1329 – 1342 for this correction. The next expected move is another five waves down with a target of 1266. This set of the five waves down is expected to be strong as it is either wave C or 3.

S&P 500 Technical Analysis Chart 27 June 2012
S&P 500 Elliott Wave Analysis Chart 27 June 2012

A strong surge up is expected at the completion of the wave C. The target range for that wave up is at least 1422.

 

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About Shivakkumar Vadiveyl

Shivakkumar Vadiveyl is a blogger who helps Investors get better in Investing by publishing Articles on Investment, Retirement Planning, Gold, Silver, Stocks and Currency Markets. He uses Elliott Wave Analysis, Classical Trend Channel and Candlesticks as the Primary Analysis Tool.