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S&P 500 Futures Elliott Wave Technical Analysis

S&P 500 Futures Elliott Wave Technical Analysis
Tuesday, 20 December 2011 at 8:00:00PM AEST

Some significant dollar weakness in recent trade. Stocks are recovering, so we need to keep an eye on the S&P Futures market while the US cash market is closed. With current dollar weakness and sharp rally on majors, such as on Aud, we are keeping an eye S&P for evidences of a low. For now, we still do not see impulsive upward bounce from the most recent lows, and the price is also still trapped in corrective channel, so bottom is unconfirmed, which means that dollar weakness is also not confrimed at the moment by the S&P. But if we get a minor five waves up on S&P Futures, then our focus will be on Aud/Usd Elliott Wave as mentioned in the video from the past week.

 

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