Elliott wave count for SPX and Nasdaq

Θα δούμε άσπρη μέρα;
July 17, 2018
Μία αχτίδα ελπίδας ξεπροβάλει στα διαγράμματα
July 19, 2018

Good day to all. Today I will share with you my Elliott wave counts for SPX and NASDAQ with what I believe is the most probable scenario.

SPX

NASDAQ

Both exhibit 5 wave structures that are complete or near completion. We could have another extension of wave 5 higher towards 2840 for example in SPX, but overall traders should now focus on shorting this market rather than chasing prices higher. Both are expected to make a pull back at least towards the previous degree wave 4 area. This means 2770-2760 for SPX and 7320-7215 for NASDAQ.

 

Follow me on twitter (@alexanderyf) for live analysis and to see some of my trades. Thank you for taking the time to catch up on my thinking.

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.