A quick update on the S&P500 index

I am posting this around 1.30 pm EST on 3rd April. The S&P500 index is straddling the bottom of a diagonal triangle, and a break seems imminent. What you can learn from the chart below is how the internal waves are all so related to each other, and have followed the Elliott Wave rules. Enjoy.S&P500-3Apr2013b



16 Comments

  • sonia

    Mr. Ramki

    I really enjoyed reading your book and learning about elliot waves. I am interested in learning more in detail to be able to apply same to us stocks. Your book indicated you would be adding to the information to get your readers more information about corrective waves and additional information-
    It would be nice if you could provide some more detailed learning or recommend additional material to get us novices some more material to get better at the elliot wave theory.

  • Job Abraham

    ES getting ready for another bigger correction – 80 to 100 points drop

  • sonia

    Mr. Ramki

    I am interested in enhancing my knowledge and learning of elliot waves. Unfortunately the examples on your website related to forex and other markets do not hit home when trying to apply the concept to the US market and us stocks.

    Im sure if it was that easy we would all be millionaires. I want to be one- however my learning curve may not be as simple as looking at examples of unrelated products on your website.

    As your student after your book I am looking up to you for more guidance.

    I dont believe in Good Luck- I believe in hard work and better understanding of a concept of the Elliot Wave which seems to be an amazing concept and reality in our world.

    Any further input from you would be appreciated.

    Thank you

    • Hi Sonia, thanks for the comments.. Be aware that the technique I explained in FWTFF works the same way in all markets, so if you focus on the chart and not the instrument,you will learn. Having said that, I think there are scores of examples covering equity markets across the world in the blog. Look at the menu bar just below the main image and choose equity, and you will see links to several indices and stocks. All the best.

  • Andries Wielens

    Took highs out today. And now?

  • Suren Manoharan

    Ramki:

    Every time you have come up with a forecast on SPX, the market proves you dead wrong. How is that?

    • Suren, Thank you for your comment. But did you notice that it was a 10-minute chart that I put up, and the index did come down to 1547. The recovery from there went past 1563, but when one is dealing with such a short time frame, you should also take account of new inputs as the market delivers them. This blog is not to showcase my forecasting abilities, rather to teach people how to interpret waves. And I am quite happy to publish critical comments such as yours because I respect my readers’ views.

  • Crystal

    Dear Mr. Ramki,
    I understand you are very busy. But if you have spare time, I hope you will take a look at S&P500 index again and share with us what you see. Thanks in advance.

  • Job Abraham

    ES completing wave 4 – Time to Buy
    Buy @ 1550 target 1700

  • Anandha

    Hi Ramki,
    Your book is really good. I see Ambuja, ACC in Indian stock market are started a new Cycle and now in 3 wave. Bharti also just entred 3rd wave. Please let me know if I’m right wrong. Just reading chapter by chapter and trying to apply.

    • Hi Anandha, Stick to your OWN counts and be guided by your own knowledge of the rules and guidelines. You dont need any Guru, including me to validate your count. They are your own, and if you follow what you learnt from the book regarding when you will be wrong, then you will be successful. good luck

  • Job Abraham

    E mini & SPX likely to roll over tomorrow for W4 of this uptrend.See charts(3) in wordpress – http://jobjas.wordpress.com/
    Thanks
    Job

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