Technical Analysis – US Stocks

The following Elliott Wave analysis finds that since wave 1 ended on March 23, 2020, a traditional 5 wave impulse pattern has been followed by a corrective a-b-c pattern.

Since then a weaker 5 wave pattern potentially is ending in a final upward 5th wave.

This will potentially be followed by the start of a larger wave 3 that will take stocks below the March 2020 level.

The above chart was created using a Wave-Trend approach.