My Elliott Wave Count SP 500 Index 2021
My Elliott Wave Count SP-500 Index 2021
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First thing first, note that this is a continuation
of my 2020 video titled
SP 500 Index The Market Elliott Wave Analysis 2020.
It will be helpful to check it out to understand all.
Previously, I have counted five waves, and we were
expexting a possible flat correction. It was almost
the same thing for the Dow Jones index. Please check
also my 2021 wave analysis of the DJI index. That will help.
Note that, I did put a question mark on both 4th and 5th
waves. Those question marks will remain in place in 2021
because anything is possible. Caution is needed at this stage
as we are flowing with the price-action one step at a time.
Right?
Nothing has changed so much considering my previous
waves count. However, I will add this.
1/ Priority to bullish signals above $4037.
2/ The price may consolidate between $3795 and $4037.
3/ If it dips below 3795 and starts falling, we will be getting
ready to play the flat correction.
4/ If it holds above $4037 then I will come back to re-examine
both 4th and 5th waves because of the question marks.
Future Price Targets
There is a midpoint price target at $4373.
The peak price target is hidden in the zone of $4725.
Those are bullish price targets provided that it continues
to rise above that $4037.
Warning
Many market players want to bring the markets down just
because the momentum oscillator are overbought. There
is this urge to sell; so please be defensive.
In my opinion,
the markets should stay bullish in the next sixteen months.
Please do not take my words for it, but flow with the price-action
using a top-down trading method. Never impose the wave analysis
to the price-action. That will not be helpful.
It may be a bumpy ride, so please fasten your belt, and be defensive
like the military. Alright?
Mapping Monthly Chart
Please follow me on the chart.
That is it really friends and foes. I will surely come back to update
my Elliott wave count of SP-500 in due course.
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I wish you the very best in your trading. It will not be too long
before I zoom into the NASDAQ-100 index.
Happy Trading And Investing
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