The elliott wave lives on oew an objective approach to the elliott wave theory electricity hero names

##########

The SPX, NAS, and NDX reached higher levels this week while the Dow remained under the recent recovery highs. The SPX rose to 2852 on Tuesday but then fell to 2812 before the FOMC decision on Wednesday. The gas pain in shoulder Fed announcement caused an afternoon rally to 2842, but price declined again into the close. Price gapped lower on Thursday’s open with the SPX falling to 2817, but buyers stepped in quickly and the SPX rallied to the weekly high of 2860. The SPX gapped down on Friday, fell to 2802, recovered in the afternoon, but sold off to 2801 into the close. Quite a volatile day and week!

We continue to track the three highest probability wave counts as discussed in last weekend’s report. The divergence between Dow and other major electricity 4th grade powerpoint indices continues, so we favor our conservative outlook of a complex Minor 2 correction underway as shown on the Dow chart. Choppy price action suggests a corrective rally off early March lows and weakness into the close supports this view. Should the Dow reverse course and rally to new recovery highs, this wave count may be eliminated. Minor wave labeling remains tentative until further price action is developed.

The daily SPX chart shows the near-term bullish wave count with Minor 1 and Minor 2 complete at 2817 and gsa 2016 2722, respectively with Minor 3 underway. Early price action off the 2722 low was strong but has since become choppy. Strength in NAS and NDX has been supporting this wave count as well. Sharp reversal on Friday was largest pullback of the rally so far and sufficient to qualify another wave, suggesting Minor 3 may be subdividing.

For SPX, we can count three small waves up to this week’s high gas quality, 285228122860. This suggests either a corrective B wave rally, which supports our primary view of an ongoing Minor 2 correction, or an irregular subdivision for Minor 3 as noted on the SPX daily chart. Last week’s count showing Micro 3 of Minute v was eliminated due to overlap of Micro 1 and has diminished the possibility of a Minor 1 extension. Until SPX clears 2876 and/or the Dow reaches new recovery highs, trend weakness remains on the table.

The SPX, NAS, and NDX all reversed last week’s losses of 2% and rallied to new recovery highs. The Dow lagged and only recovered approximately 62% of last week’s losses. The SPX gapped up to 2748 at Monday’s open and rallied to 2798 on Tuesday. After a short-lived pullback to 2788 into the close on Tuesday grade 6 electricity experiments, price continued higher to 2821 on Wednesday. A late day sell off on Wednesday was followed by more weakness to 2803 on Thursday morning. Price remained in a range for the rest of Thursday and then gapped up again on Friday and rallied to the week’s high of 2831 and closed at 2822.

We continue to track the foreign markets as we have for the past several months. All of the foreign indices we track were positive for the week. The Indian Nifty 50 up 3.6%, the German DAX up 1.8%, the French CAC 40 up 3.3%, the Brazilian BVSP up 3.8%, the Japanese Nikkei 225 up 3.6%, the Shanghai Stock gas variables pogil extension questions Exchange (SSEC) up 2.7%, the Hang Seng Stock Exchange up 2.8%, and the South Korean KOSPI up 1.9%.

We count a five wave impulsive rally from the Major 2 low at SPX 2347. Minute i at 2520, Minute ii at 2444, Minute iii at 2739, Minute iv at 2682 and Minute v at 2817. We tentatively labeled the 2817 high as Minor 1 on last weekend’s report, thus we were expecting a correction for Minor 2. Indeed, the SPX/Dow broke support levels and fell 3+% in a three wave gas efficient suv 2008 move during the correction. From the 2722 low, SPX has risen to 2831 while the Dow has not reached new recovery highs. This divergence among the indexes tells us to be conservative in our market view and consider that a complex Minor 2 correction may still be underway. This conservative market gas pains 6 weeks pregnant view is shown on the Dow chart below and will remain our primary count awaiting further price action.

The SPX rally could be part of an irregular b wave with a wave c decline to follow. If this view is correct, the Dow price should fall below last week’s low. The SPX and Dow will likely realign during this correction. If the Dow rallies to new highs before declining below last week’s lows, this count will be eliminated. Also, if the SPX rises over 2876, this count will be dropped.

The strength in the SPX and NAS/NDX indices also suggest near-term bullish wave counts. These include 1) Minor 2 is complete at SPX 2722 with Minor 3 underway which will likely subdivide as well (shown above on the SPX daily chart), and 2) The impulsive rally from SPX 2347 continues with an additional extension of the Minute gas prices going up v wave into Micro waves (shown below on the 60 minute chart). Clearly, we will need to see the Dow rally to new highs for these bullish counts mp electricity bill payment jabalpur.

The SPX gapped up on Monday to start the week at 2815 and immediately hit the high for the week at 2817. The market then began to sell off and hit 2768 by lunch before climbing higher into 2793. Tuesday was a more stable day, trading down to 2783 in the morning session then a gradual climb up to 2796 by close. Then on Wednesday the selloff continued as price moved down to 2770 and on Thursday selling saw Mondays low taken out, 2742 was hit early on, bounced back up to 2761 by lunch, back down to 2739 in the afternoon and a bounce into gas density 2750 at close. Friday gapped down and hit 2722 early in the session, bounced up to 2736, returned to test 2723 before finishing the week at 2743

Since what we believe is the Major 2 low, we count a possible 5 waves up complete. Minute i at 2520, Minute ii at 2444, Minute iii at 2739, Minute iv at 2682 and Minute v at 2817. We have been producing a Weekend Report for the OEW group and mentioned a couple of weeks ago that Minute electricity generation in california v looked to be subdividing and that did indeed happen. We label this subdivision as Micro 1 at 2762, Micro 2 at 2731, Micro 3 at 2813, Micro 4 at 2775 and Micro 5 at 2817. The action possibly wrapped up Minor 1 on Monday and we believe Minor 2 has been underway since. Several of criteria we were looking at to help confirm have now been met, like a break of Micro 4 at 2775 and largest pullback of the UT from 2347. This data suggests that Minor 2 is underway and likely to confirm a DT in the coming weeks.