The US stocks turned bearish yesterday, which has been expected, as rally on the E-mini {{166|S&P 500}} had a corrective shape. The decline from 1884 was sharp, that also took out the lower trend line of a corrective channel. It suggests that move from 1858 is complete and that market will continue to the downside, beneath 1858 as long as 1884 is in place. Short-term resistance for current minor a-b-c rally comes in around 1875.

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Ew-forecast.com is providing advanced technical analysis for the financial markets (Forex, Gold, Oil & S&P) with method called Elliott Wave Principle. We help traders who are interested in Elliott Wave theory to understand it correctly. We are doing our best to explain our view and bias as simple as possible with educational goal, because knowledge itself is power.

Gregor is based in Slovenia and has been in Forex market since 2003. His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets; from candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful to traders.
He was working for Capital Forex Group and TheLFB.com. His featured articles have been published in: Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu. He mostly focuses on currencies, gold, oil, and some major US indices.

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