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SPX shows a 5 swing sequence from July 27, 2023 high favoring further downside. 5 swing is an incomplete bearish sequence and the Index therefore likely extends lower. The drop from July 27 high unfolded as a double correction Elliott Wave structure. Down from July 27 high, wave ((a)) ended at 4461.33 and pullback in wave ((b)) ended at 4523.34 The Index extended lower again in wave ((c)) towards 4344.75 to complete wave W of the double correction. Wave X connector took the form of a zigzag. Up from wave W, wave ((a)) ended at 4443.18 and wave ((b)) correction ended at 4346.29. Wave ((c)) high...

5 signs & charts for Stock Market Bulls :: The Market Oracle ::

Short term Elliott Wave view suggests the USDX is correcting cycle from 9.28.2022 high in an expanded flat structure. Down from 9.28.2022 high, wave (A) ended at 100.82 and wave (B) is still ending a flat correction higher. Up from 100.82 wave A ended at 105.88. Then we saw 3 swings lower to end wave B at 99.58 and after that, the index rallied in wave C of (B). The dollar should be near to end wave (B) where market will turn lower in wave (C).

Ripple’s XRP price has fallen since its yearly high in July. The price broke down from a long-term ascending support line in August. The price action, RSI…

Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of American Airlines Group ( $AAL ) stock. As our…