ELWAVE analysis results for S&P500 (SPY)
Elliott Wave analysis performed by ELWAVE plug-in for MetaStock. For more information on ELWAVE standalone or this plug-in see
WWW.ELWAVE.COM/metastocktrial
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[English]
BUY advice
This is a very positive signal! Three consecutive wave degrees show a clear POSITIVE trend, as well as a
positive EASI, which indicates that the target has not yet been reached.
Check if the wave degrees are the time frames you trade.
A price move of in general at least 10% or more is indicated, depending on how far the price move has progressed already, which is interesting to institutional traders or active investors.
From Intermediate to Minute Wave degrees the trends are all up. Most likely the target of the
Minute wave degree, which is in wave 3, will be reached at 1432.2838 or percentagewise 7.4965%.
Normally also the target of the next wave degree could be reached at 1595.1525, which is in wave 4.
Summary
Time frame EASI Trend Target
Intermediate positive up 1519.973473
Minor positive up 1595.152474
Minute positive up 1432.283782
At present I am experimenting with Elwave. I find that the recent pivot points tend to change within a few days, but it has some merit. Needs working on a bit before I shell out £400+ though
