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S&P500 Now at Support; 2870 Region in View - Elliott Wave Analysis

By Gregor HorvatStock MarketsAug 09, 2018 10:55AM ET
www.investing.com/analysis/sp500-now-at-support-2870-region-in-view--elliott-wave-analysis-200337657
S&P500 Now at Support; 2870 Region in View - Elliott Wave Analysis
By Gregor Horvat   |  Aug 09, 2018 10:55AM ET
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Hi traders,
S&P500 is trading similar as before, however we like the fact that the price is making a slow progression around the Fibonacci ratio of 38.2. This Fibonacci projection can offer support for wave iv), and can later push price into a new rally above the 2863 region for wave v).
S&P500, 1h

sp, 1h
sp, 1h

S&P500 Now at Support; 2870 Region in View - Elliott Wave Analysis
 
S&P500 Now at Support; 2870 Region in View - Elliott Wave Analysis

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