#SPX = Daily Update = 15.11.2021 $SPY #investing $SPX #trading #ES_F #DowJones $NDX

Despite the red color of the candles in SPX, NDX and DJIA today, the odds remain bullish. No changes in the short term outlook.



The daily candles are likely the On-Neck formations that are viewed as bullish continuation. The prices of SPX and NDX are above 8 EMA, DJIA – just on it. The most likely scenario for tomorrow is one more consolidation day. However, a move up would be natural either.
Odds: Bullish

Elliott Waves

SPX/ES retraced 0.236 of the recent rally, the necessary minimum for wave 4, and possibly started wave 5. No changes since the previous post.

Currently I am tracking three possible paths as shown on the chart above:

  1. Green (primary).
    Wave 4 completed. Target for wave 5 – $4770-4810. Green rectangle.
    This is well aligned with the SPX swing alert on October 18 for target – $4750-4800.
  2. Red.
    Wave (1) completed. A bigger pullback to $4450-4600 in wave (2). Red rectangle.
  3. Blue.
    The correction that started in September is not over. Possible wave C, targeting $4250-4300.

Good Luck!

Follow the blog in Twitter @InvestingAngles or by email subscription.

As tweets are often buried among the other tweets on the topic and one is looking for regular updates, I recommend that you to sign to the email updates in the blog – every single post will be automatically sent to your inbox.


%d bloggers like this: