Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Elliott Wave Charting: S&P Futures Top

TheLFB Trader Advantage Detail

Elliott Wave Charting: S&P Futures

S&P futures fell on Friday, after some profit taking as traders were unable to push the prices through 1165 top. Prices dropped 15 points (1.2%)  and have already broken through the support line of an upward channel, which could be a signal that the top is in place, and lower levels are in the process of being built into. At least one corrective decline should be seen in the near future, towards the 1136 region, after the five waves up shown in a blue wave (5) found a base.

Bearish divergence and a cross on the MACD also signal for a move lower, all the time that the 1165 top holds.


Follow Elliott Wave charts and updates on twitter.

TheLFB S-PTheLFB Charting: S&P Futures 4h view


If you would like to be a part of, to receive a full Elliott wave detail for S&P Futures (monthly, weekly, daily and 4h charts) and if you want to know what comes next and what to expect from the market, then join us now.

Disclosure: no pos