{"id":30286,"date":"2012-06-17T15:18:15","date_gmt":"2012-06-17T19:18:15","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=30286"},"modified":"2012-06-17T15:18:15","modified_gmt":"2012-06-17T19:18:15","slug":"sp-500-elliott-wave-forecasts-simplified","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/06\/17\/sp-500-elliott-wave-forecasts-simplified\/","title":{"rendered":"S&P 500: Elliott Wave Forecasts, Simplified"},"content":{"rendered":"

Plus, your FREE opportunity to test-drive our intraday S&P forecasts for 1 full week — starting now <\/span>
\n<\/span><\/h3>\n

By Elliott Wave International<\/span><\/h3>\n

Here’s what Elliott wave analysis is all about: You study charts to find non-overlapping 5-wave moves (trend-defining) from overlapping 3-wave ones (corrective, countertrend).<\/p>\n

With that in mind, please take a look at this chart of the S&P 500, which our U.S. Intraday Stocks Specialty Service<\/em> (FreeWeek is on now<\/a>) posted for subscribers at 9:37 AM today (June 14):<\/p>\n

\"\"<\/p>\n

Immediately, you can see that the S&P 500 has been moving sideways in a choppy, overlapping manner. That’s the definition of a correction — i.e., that is NOT the trend. The trend, as the U.S. Intraday Stocks Specialty Service<\/em> editor Tom Prindaville said in the morning market overview, was higher — at least in the short-term:<\/p>\n

…sideways-to-up over the very near term will be expected. Simply put, overall higher near-term<\/strong> remains the intraday call — to complete a corrective second wave.<\/em><\/p><\/blockquote>\n

And here’s a chart of the S&P 500 at the close of the market that the Service<\/em> posted at 3:34 PM on the same day:<\/p>\n

\"\"<\/p>\n

To make this bullish forecast, the Service<\/em> editor Tom Prindaville was simply following the Elliott wave model of market progression. The model called for a completion of the developing wave 2 — in this case, “higher near-term.”<\/p>\n

Market corrections — the sideways, choppy moves you see in both charts above — are notoriously hard to forecast. And not every Elliott wave forecast works out. But you do<\/strong> get a real, practical<\/strong> roadmap of the expected market action.<\/p>\n

 <\/p>\n\n\n\n
\"\"<\/a><\/td>\nWANT TO TRY ELLIOTT WAVE FORECASTS — FREE?<\/strong><\/p>\n

You can — now thru 12 noon on June 21<\/p>\n

Try our U.S. Intraday Stocks Specialty Service<\/em> forecasts of the S&P 500, DJIA<\/strong> and NASDAQ<\/strong> free for a week. No strings attached, no credit card required.<\/p>\n

Get the details and instant, FREE online access now >><\/strong><\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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This article was syndicated by Elliott Wave International and was originally published under the headline S&P 500: Elliott Wave Forecasts, Simplified<\/strong><\/a>. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.<\/em><\/p>\n

 <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Plus, your FREE opportunity to test-drive our intraday S&P forecasts for 1 full week — starting now By Elliott Wave International Here’s what Elliott wave analysis is all about: You study charts to find non-overlapping 5-wave moves (trend-defining) from overlapping 3-wave ones (corrective, countertrend). With that in mind, please take a look at this chart … <\/p>\n

Continue reading “S&P 500: Elliott Wave Forecasts, Simplified”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-30286","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/30286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=30286"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/30286\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=30286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=30286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=30286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}