S&P 500 and German DAX: markets to watch

May 19, 2017 09:44 AM
Elliott Wave Analysis: S&P 500 and German DAX

Stocks and DAX, as we can see, are both in a corrective rally; the E-mini S&P 500 has resistance near 2380 and the DAX at 12680. On both markets invalidation levels are at the highs.

S&P 500, 1 hour

German DAX, 1 hour

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About the Author

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/