Elliott wave Analysis: S&P500 Unfolding A Potential Three-wave Reversal; 2636 in View
Gregor Horvat of Elliott Wave Financial Service - InsideFutures.com - Fri Feb 08, 9:38AM CST

Hello everybody,

S&P500 is slowly turning to the downside from the 2739 level, giving us a suggestion that a bigger, five-wave rally found a top, and that a temporary, three-wave correction is now in play. That said, in that case, we are now tracking a three-wave pullback, which can take price below the 2636 level, and towards the Fibonacci ratio of 38.2/61.8, possible region of support.

For more analysis check our website at www.ew-forecast.com.

S&P500, 1h

sp, 4h.