Technical analysis S&P / TSX 60 Elliott Wave
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Function: Upward trend.
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Fashion: Impulsive.
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Struction: Orange wave 1.
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Position: Navy Blue Wave 3.
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Next direction lower degrees: Orange wave 2.
Details:
Navy Blue Wave 2 seems complete and the Orange 1 out of 3 wave is developing now.
The analysis of the daily graphic S&P / TSX 60 highlights an upward trend evolving through an impulsive structure of Elliott waves. The index finalized the correction of the Marine 2 blue wave and has now entered the Orange 1 wave in the largest formation of the blue wave in navy 3. This structure suggests the early stage of a new vague impulse which could create a significant ascending impulse in the coming sessions.
The Orange 1 wave represents the initial phase of the new impulse movement, generally characterized by an increasing dynamic as the market strengthens directional force. The end of the Marine 2 blue wave has laid the foundations for this development, the wave 1 often displaying regular but moderate progress before greater acceleration. The current configuration indicates a gradual increase trend before moving on to the next correct phase.
After finishing the Orange 1 wave, a corrective withdrawal in the Orange 2 wave is planned. This retrace should offer an opportunity to purchase before a potentially stronger Wave 3 rally. The daily delay offers an important perspective on this evolving structure, the current impulse wave indicating early potential to establish a renewed bullish momentum.
Market players should follow the progress of wave 1 for typical impulse wave signs such as the increase in volume and regular price gains. The analysis suggests preparing for bullish opportunities while recognizing that the first stages of pulse often move more gradually than subsequent phases. Technical indicators and the analysis of price action will be essential to confirm the development of waves as it takes place.
The transition to the marine 3 blue wave to a higher degree indicates the possibility of a stronger and stronger and sustained bullish movement, which makes the current phase crucial to establish strategic positions. Monitoring the action of prices and indicators of Momentum will be closely will be essential to confirm the structure of evolution waves and identify the possible transition to wave 2.
Technical analysis S&P / TSX 60 Elliott Wave
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Function: Upward trend.
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Fashion: Impulsive.
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Structure: Navy Blue Wave 3.
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Position: Gray wave 3.
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Direction of the following upper degrees: Navy Blue Wave 3 (started).
Details:
The Gray 2 wave seems complete, and now the navy blue 3 of 3 wave is progressing.
Analysis of S & P / TSX 60 weekly graphics shows a strong upward trend forming by an impulsive structure of Elliott waves. The index finalized the correction of the Gray 2 wave 2 and went to the Marine 3 blue wave in the wider frame of the Gray 3. 3. This positioning suggests that the market moves in the most dynamic phase of its upward cycle, generally characterized by prolonged price rallies and a strong dynamic.
Navy Blue Wave 3 generally represents the central trend segment in the structures of Elliott waves, often presenting the highest price movement aligned with the dominant trend. With the correction of the wave 2 now finished, the scene is set for a powerful wave 3 advance, generally exceeding wave 1 in size and momentum. The current configuration points to a sustained force before the next corrective withdrawal manifests itself.
The weekly deadline offers a vital vision of this deployment structure, suggesting that the current movement is a major element of a wider bullish sequence. The transition to the gray 3 wave to a higher degree reinforces the probability of a greater ascending movement through longer deadlines. Traders should monitor the navy blue wave 3 for traditional bullish signals, including significant momentum, an increase in volume and coherent prices progress.
This analysis recommends maintaining an upward exposure during this impulsive stage while remaining vigilant for the completion signals of the wave 3. Price action and technical indicators will be key tools to confirm the structure as it takes place. Once the completion of the navy blue wave 3, a corrective movement in the navy blue wave is planned, offering a possible withdrawal opportunity in the continuous optimistic trend.
The current phase provides an optimal environment for trend trading, as wave 3 generally offers the most favorable conditions in Elliott wave cycles. Particular attention to price movements will be essential to identify the best participation points as the trend matures in the wider upper structure.
Technical analyst: Malik Awais.
Technical analysis S&P / TSX 60 Elliott Wave [Video]
