Elliott Wave Analysis On S&P500 And German DAX
Stocks remain in bearish mode, but we see both S&P an DAX trading in their final leg of a corrective price move. On the E-mini S&p500 we are looking at wave C-circled that already has five waves down so reversal can be near, or already in progress as of recent intraday bounce.
S&P500, 1H
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On DAX we are also looking at wave C which however can fall to 10100-10200 area, where we would expect a completion of a bearish leg from October highs, but only after five visible subwaves down. At the moment, we expect a minor recovery up into wave four that can look for a resistance around 10487.
German DAX, 1H
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