Stock Market 3-Wave Decline Underway :: The Market Oracle …
Stock Market 3-Wave Decline Underway
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Stock Markets 2014Jul 09, 2014 – 12:06 PM GMT
By: Gregor_Horvat
S&P 500 made a downward extension yesterday, close to 1950. The move is very strong, so it appears that the rally from 1935 is already done, that can be a fifth wave within a bigger impulsive rally. We know that after every five wave move market, it will turn into the opposite direction with minimum three legs. With that in mind, we suspect that price will remain bearish for another, third leg of decline, maybe after hitting 1967 resistance.
S&P500 4h Elliott Wave Analysis
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Gregor is based in Slovenia and has been in Forex market since 2003. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets; from candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful to traders.
He was working for Capital Forex Group and TheLFB.com. His featured articles have been published in: Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu. He mostly focuses on currencies, gold, oil, and some major US indices.
© 2014 Copyright Gregor Horvat – All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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Stock Market 3-Wave Decline Underway :: The Market Oracle …
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