S&P500 Update: Where Next?!

Below is an excerpt of the most recent premium member major markets weekly digest, which is send out each weekend to all premium major markets members. This excerpt’s focus is on the big picture Elliott Wave count. I’ve added the pre-election year seasonal average chart to better exemplify why I prefer a certain Elliott wave…

S&P500 Update: Upside resolution of a downside set up.

Last week I reviewed the NASDAQ’s big picture and shorter-term chart patterns. As a symmetrical triangle was forming after a decline, standard charting then expects a next leg down. Instead the markets fooled the majority, including me, and resolved to the upside. How’s that possible?! Well, its all about odds. Such standard/text book price structures…