Crazy Day For Dow, S&P 500, And NASDAQ

www.investing.com/analysis/stock-market-update---for-friday-06-24-16---brexit-200138172

By Robert H Anderson | Jun 25, 2016 05:20PM ET

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Since the S&P 500 top of 2134 back in May 2015, we have formed 4 large Elliott Waves. The 1st big wave was an impulse down wave that had 9 sub waves and that wave was the one that finished with a week of strong down momentum and ending on a Friday morning when the Dow went down 1,000 points.

I believe that wave was the start of a new bear market. Since that initial down wave we created an A/B/C counter trend rally of three big waves and the final wave-4 ended at 2120 last May.

Then we started a new wave-5 down and since the 2120 Wave-4 top we have completed 2 big sub waves. Today we started the 3rd big sub wave down and interesting enough it coincided with the "BREXIT" vote to leave the EU. A crazy day, the Dow was down -610 points, S&P 500 -76 points, Nasdaq -202 points down.

The first two big sub waves of this new Elliott Wave-5 down, each had 7 sub waves within them and I now expect this new big sub wave-3 down to also have 7 sub waves. The 7 sub waves take about 6 market days to get processed, so I am estimating that this current big sub wave-3 down will finish next Friday July 1st.

I am predicting that this current big sub wave-3 down could end at S&P 500 1940. That is another 97 S&P 500 points down. Realize that is just a guess and what will really tell us when it's complete is our accurate counting of the 7 sub waves. Also based on my experience, I am expecting 5, 7 or 9 total big sub waves in this current wave-5 down.

Finally since this current Elliott Wave-5 down is also an "impulse down wave" similar to our first Elliott Wave-1 and a Elliott Wave-5 is know for its additional power and momentum, we could see another "mini-crash" scenario when the wave gets close to ending.

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US 30	32,431.0	-1.1	0.00%
US 500	3,972.3	-5.2	-0.13%
Dow Jones	32,432.08	+194.55	+0.60%
S&P 500	3,977.53	+6.54	+0.16%
Nasdaq	11,768.84	-55.12	-0.47%
S&P 500 VIX	20.94	+0.34	+1.65%
Dollar Index	102.365	-0.153	-0.15%

Crude Oil WTI	73.19	+0.38	+0.52%
Brent Oil	78.05	+0.29	+0.37%
Natural Gas	2.218	+0.003	+0.14%
Gold	1,971.65	+0.15	+0.01%
Silver	23.027	-0.118	-0.51%
Copper	4.0713	-0.0072	-0.18%
US Soybeans	1,444.00	+2.00	+0.14%

U.S. 10Y	3.564	+0.036	+1.02%
U.S. 30Y	3.770	+0.010	+0.27%
U.S. 5Y	3.6549	+0.0600	+1.67%
U.S. 3M	4.8336	+0.0820	+1.72%
US 10Y T-Note	114.66	-0.33	-0.29%
Euro Bund	135.94	-0.31	-0.23%
10-2 Yield Spread	-47.23	-7.43	18.67%

Apple	158.15	-2.10	-1.31%
Alphabet A	102.46	-2.98	-2.83%
Tesla	191.81	+1.40	+0.74%
Amazon.com	98.04	-0.09	-0.09%
Netflix	327.66	-0.73	-0.22%
Meta Platforms	202.84	-3.17	-1.54%
Bank of America	28.49	+1.35	+4.97%

Crazy Day For Dow, S&P 500, And NASDAQ

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