Elliott Wave Overiew on S&P500 And German DAX

US stocks once again rallied to the highs yesterday, but on the S&P we see possibility of an irregular correction that could be now unfolding. If pullback will occur then this will be nice for traders who want to join the trend. We still see 1785-1795 as nice zone for a potential completion of a corrective price action.
S&P 500 (Mar 2014) 1h
spx elliott wave
German DAX is also bullish after clean five waves rally from 9025. We know that after every five wave’s correction will follow so be aware of a three wave set-back in the near future. Ideally market will retrace back to 9423 swing before uptrend will resume. A divergen on the RSI also suggests that price is in final stages of current impulse.
DAX (Mar 2014) 1h

german dax elliott wave

Written by www.ew-forecast.com  

14 days trial just for €1 >> http://www.ew-forecast.com/register

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!