SP500 Is At First Major SupportSep 29, 2023

SP500 is at first major support based on several evidences from technical point of view and from Elliott wave perspective.

SP500 is making nice and clean A-B-C correction as we have been warning about in past updates.
Check our previous blog HERE.

SP500 Is At First Major Support SP500 Futures Daily Chart
SP500 Futures Daily Chart

Below are some of the important key points for a potential bounce on stocks in next few weeks.

End of Q3

Normally end of the quarter are important flows, because the portfolio adjustments, so ti can impact the trends, and causes a change in cycles

Seasonal Chart Of SP500 Is Bullish For Octobe

Historically speaking, September is not good month for stocks, but October is. So, can we see a bounce on stocks?

Trendline Support

As long as trendline holds, trend is up!

    June GAP Fill.

    When gap is filled, flows will change because some unfilled orders got exacetued int hat price, so the market can change a direction after fill.

    A-B-C correction

    Thats a bullish pattern, because it represents a correction within uptrend. Its a pause that can send price higher


    Put call ratio represents a sentiment; if a lot of puts are being bought then investors are affradi of falling prices, so they want to hedge their portfolio. But if puts are moving into extremes, like over-corded reaction, then be aware of the opposite, because market moves in cylces.

    Become a premium member

    Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

    Register here (Limited-Special 2 for 1 Offer available)

    Bitcoin Is Trading At Support Area. Check our blog HERE.


    Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

    The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

    Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

    By continuing to use the site, you agree to the use of cookies. Learn more.

    The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.