4 Hour Chart Flows: Mixed Price Points: 1125, and 1135 Looking for: An ending diagonal (reversal pattern)
Elliott Wave: S&P futures are looking bullish with prices that are trading above the early December highs, and our alternative wave count has now become our primary wave count.We are looking for a complex wave 5) leg, as it seems that the market is forming a (NYSE:W)-(NYSE:X)-(NYSE:Y) pattern in larger wave 5), with wave c of wave (Y) in progress at the moment. The target of this final bullish wave is shown at the 1125 region, followed by a second target at the 1135 zone, where a potential top may be hit.
Above is one of three charts posted on this commodity to members each day, that make up thirty charts in total that cover six major currency pairs, equity futures, oil, gold, and the dollar index.
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Disclosure: No positions