S&P 500 Elliott Wave Analysis (2)

By ccloh Strategic Investor Zone • December 21, 2018

Continued from S&P 500 Elliott Wave Analysis The picture for S&P 500 looks clearer now with the ongoing hammering down.

S&P 500 looks on course of doing a Expanded Flat correction for wave ((4)) as shown in the chart above. Wave ((3)) has completed in January 2018 since the start in 2016. For rest of the year and still ongoing, it is doing a wave ((4)) correction, a Cycle degree. This is not surprising as time frame for Cycle degree ranges from 1 to several years.

Expanded Flat pattern is a 3-3-5 structure. Wave (A) unfolded in a 3-wave down A-B-C ended in April 2018. Wave (B) which according to Expanded Flat guideline is 123.6% of Wave (A). Hence, S&P 500 exceeded the peak of wave ((3)) in October 2018. Wave (B) also unfolded in a 3-wave A-B-C as shown in ...

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By ccloh Strategic Investor Zone

Am a typical retail investor who started investing in stock market in 1993, the same length of period as SingTel was listed in SGX and ironically SingTel was my first vested stock. Back then was a passive investor and started to turn more active in stock market in 2006. A year later when I switched my engineering job to a finance related one, I became what commonly known as trader ( trade for living ) and at the same time also strongly believe in fundamental/value investing that is the way to growth wealth. In a way I classify myself as a "Strategic Investor". As a trader, I track market movement daily and as an value investor, I am always on the lookout for cheap bargain to hold for long term.

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