SPX - In trouble

After the sell-off on Monday, it increases the likelihood of a bearish breakdown of flat pattern;  
in such case, the alternative scenario (red dotted line) would prevail.

ElwaveSurfer

Elliott Wave Analysis of financial markets

STOCK MARKET INDEXES

DJIA
Preferred Scenario:

SHORT TERM Trend : Bullish (DJIA 18.400) 

INTERMEDIATE Trend : Bearish (DJIA 15.300)

LONG TERM Trend : Bullish

SPX

Preferred scenario

SHORT TERM Trend : Bullish (2.150 - 2.200) 

INTERMEDIATE Trend : Bearish (1.800)

LONG TERM Trend : Bullish

NDX

 Preferred scenario

SHORT TERM Trend : Bullish (4.900 - 5.000) 

INTERMEDIATE Trend : Bearish (3.700- 3.800)

LONG TERM Trend : Bullish

DAX

Preferred Scenario:

SHORT TERM Trend : Bullish (12.400) 

INTERMEDIATE Trend : Bearish (8.500 - 8.000)

LONG TERM Trend : Bullish

TOKYO NIKKEY

Preferred Scenario:

SHORT TERM Trend : Topping 

INTERMEDIATE Trend : Bearish (14.000)

LONG TERM Trend : Bearish

Interesting US stock 

with good CANSLIM rating and technical pattern

(long trade setup)

 AVGO

 BABA

 FB

 OLED

 REGN

CURRENCIES

EUR/USD

USD / JPY

AUD / USD

 GBP / USD

 EUR / GBP

COMMODITIES

GOLD

Preferred Scenario:

SHOR TERM Trend : Sideways 

INTERMEDIATE Trend : Bearish / Bottoming (980 - 1000)

LONG TERM Trend : Bullish

CRUDE OIL

Preferred Scenario:

SHOR TERM Trend : Sideways 

INTERMEDIATE Trend : Bearish / Bottoming (29-30)
 LONG TERM Trend : Bullish

Happy new Year and best wishes for your trading ;-))

ElwaveSurfer