SPX - Sideways pattern remains in progress

The failed breakout has reduced the probability that b wave is ended, so a recount is necessary.
The new preferred scenario becomes the previous first alternate (slightly bearish); b wave is a sideways pattern (triangle or three) in progress with w wave of wave [c]/[y] in its mid-move; target = 1538.
The alternate count (bullish), that considers an Alt:[4] of wave a , is becoming less likely because it seems disproportionate with wave [2] , unless it was finished March 21, and because it appears as a "three" rather than a "five".

Have a great trading day ... with care!

ElwaveSurfer

 

 

Elliott Wave Analysis of DJIA, NDX, DAX, GOLD, OIL

Dow Jones Industrial Average

 

Although this week DJIA has break-out the tops, the uptrend is still in accordance with my two main Long-term scenarios, which consider the top of the year 2000 as the end of SuperCycle wave [III] ;

Preferred scenario; the SuperCycle wave [IV] is a WXY three wave pattern, where the wave W is over at the bottom in 2009, now we are in the Cycle wave X , and is developing the final intermediate wave (y) of primary wave [Y] .

First alternate scenario: the SuperCycle wave [IV] is an ABCDE expanding triangle, and now we are in wave Alt: D.

 

 

My preferred short-term view (on daily basis) is bullish and considers an impulse wave a of minor degree in progress; I think that intermediate wave (y) could be an abc zig-zag pattern.

  

NDX

It's always the worst of U.S. stock market index; the fault is obviously due to AAPL.
The uptrend pattern is unclear , the upward move seems weak.
(form Long-term view look at the post of Febraury 02)

DAX

A diagonal pattern is underway; we will soon see a top's test.
(for my Long-term view look at the post of Febraury 23)

GOLD

I've updated my preferred count; the bottom of intermediate (w) wave is in progress, and not yet reached.
(for my Long-term view look at the post of Febraury 23)

 

 

CRUDE OIL

 

The downtrend is still underway; we are close to completion of wave [1]

(for my Long-term view look at the post of Febraury 23)

 

 

 

 Have a great weekend!

 

ElwaveSurfer

 

SPX - Sideways corrective wave?

New count (it changes often in the early stage of corrective waves ...).
The first wave began on July 19 and ended July 24, qualified as wave a/w, seems to have corrective properties; if the preferred count is right, wave y should be a sideways or flat or three, do not a zigzag type.
It 's too early to identify the trend, which for now, is choppy.
Have a great trading day...with care!

Nuovo conteggio (esso cambia spesso nella fase iniziale delle onde correttive...)
La prima onda correttiva iniziata il 19 luglio e terminata il 24 luglio, qualificata come onda a/w, sembra aver caratteristiche correttive; se il conteggio preferito è corretto l'onda y in corso dovrebbe essere tipo sideways o flat o three, non tipo zigzag.
E' ancora presto per individuare un trend principale , che per ora, è indeterminato.
Buon trading... e prudenza!