Elliott Wave Analysis: SPX extending higher

Elliott Wave Forecast Team ElliottWave-Forecast.com

SPX Short Term Elliott Wave view suggests that rally from 12/2/2017 low is unfolding as 5 waves impulsive Elliott Wave structure where Minute wave ((i)) ended at 2694.97, Minute wave ((ii)) ended at 2673.61, Minute wave ((iii)) ended at 2759.14, and Minute wave ((iv)) ended at 2736.06. Internal of Minute wave ((v)) is unfolding also as 5 waves impulsive Elliott Wave Structure where Minute wave (i) ended at 2750.80, Minute wave (ii) ended at 2743.31, and Minute wave (iii) is in progress. We don’t like selling the Index and expect the Index to extend higher within Minute wave ((v)) provided pivot at 1/10 low (2736.06), and more importantly pivot at 12/30/2017 low (2674) stays intact.

SPX 1 Hour Elliott Wave Chart

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Elliott Wave Forecast Team

ElliottWave-Forecast.com

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