Avi Gilburt is a widely followed Elliott Wave technical analyst and author of ElliottWaveTrader.net, a live trading room featuring his intraday market analysis (including Emini S&P 500, metals, oil, U.S. dollar and VXX), an interactive member-analyst forum, and a detailed library of Elliott Wave education.
Recent Articles By The Author
Here's How You Should Play the Fed Decision, According to the Charts
Yes, it's that time of the month again -- the Fed announcement.
Are the Bulls Back?
Our question now is if the heart of the 3rd wave to 2350 on the S&P 500 (SPX) has begun, or if this is just a corrective bounce.
S&P 500 Poised to Move Higher, This Chart Shows
The stock market has been meandering in its current region for months, but technical analysis shows that the S&P 500 index (^GSPC) is poised to make a small upward move.
It Is Reasonable to Remain Short
As long as the S&P 500 remains below today's high, pressure will remain down.
Market Pullback Is Unlikely Until the S&P 500 Breaks 2,147 Level
A consolidation as the fall approaches would be desirable. However, until 2,147 on the S&P 500 is broken,this won't happen.