S&P 500 ~ Elliott Wave Count ~ 24 June 2014

The last few days went as expected. We got a short-term correction last week followed by a rally to new highs:

It looks like wave 3 is already completed. If so, we should see a sideways correction over the next few weeks.

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Author: Patrick Eugster

EUR/USD ~ 17 June 2014

The EUR/USD broke the support at 1.37ish a bit more than three weeks ago and has lost about two cents since then:

As long as we are below 1.37, the trend is down. I think 1.34ish is a likely target for this decline.

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Author: Patrick Eugster

S&P 500 ~ Elliott Wave Count ~ 12 June 2014

The expected correction is now underway:

As long as 1900ish holds, this correction should be just short-term though. It should be followed by rally to new highs.

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Author: Patrick Eugster

S&P 500 ~ Elliott Wave Count ~ 9 June 2014

The SPX is already above 1950:

I think we have seen most of wave [iii]. We may very well add another 2 or 3 % but I wouldn't be surprised if wave [iii] comes to an end this week. After that, we should see a small correction (wave [iv]) followed by another rally, probably to 2000.

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Author: Patrick Eugster

S&P 500 ~ Elliott Wave Count ~ 4 June 2014

So far, so good. The SPX is already near 1930:

If we're in a third wave, the market could add another 2-3 % over the next few days.

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Author: Patrick Eugster