S&P 500 ~ Intraday ~ 23 May 2013

We got a very nice reversal after the SPX hit the support just above 1635 this morning:

I think this short-term rally should continue for a bit longer. 1660-65 should be our next target.

S&P 500 ~ Pre-Market ~ 23 May 2013

Support and resistance levels for today:

ES ~ Globex ~ 23 May 2013

The sell-off continued overnight. The ES lost another 20 handles and hit the support area at 1630-33:

S&P 500 ~ Elliott Wave Count ~ 22 May 2013

Today we got the biggest drop since mid April. After reaching a new all-time high at 1687, the SPX reversed and declined to 1649.

Possible short-term count:

(previous count)

It's too early to tell though if today was the start of a medium-term correction. We have to wait and see what happens the next few days.

EUR/USD ~ 22 May 2013

The Elliott wave count for the EUR/USD looks still pretty good. I think wave [i] will be finished soon:

(previous count)

For a long-term chart click here.