{"id":6077,"date":"2024-10-03T19:39:00","date_gmt":"2024-10-03T19:39:00","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=6077"},"modified":"2025-05-13T10:39:50","modified_gmt":"2025-05-13T10:39:50","slug":"sp500-slip-bull-wont-trip","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/elliott-wave\/sp500-slip-bull-wont-trip\/","title":{"rendered":"SP500 Elliott Wave: Stocks Slip, But the Bull Won&#8217;t Trip"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>SP500 stalls near all-time highs<\/li>\n\n\n\n<li>A correction might push SP500 lower to $5300-$5630<\/li>\n\n\n\n<li>Anticipate additional new highs later in the calendar year or early in 2025<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">SP500 Trend is Incomplete to the Upside<\/h2>\n\n\n\n<p>The SP500 has trended sideways for the past two weeks. The rally from the August 5 low has developed into three waves thus far. That Elliott wave structure suggests the pattern is incomplete to the upside.<\/p>\n\n\n\n<p>The main question is, will SP500 significantly decline prior to rallying to new highs?<\/p>\n\n\n\n<p>Let\u2019s look at two main Elliott wave models we are following.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXfwX8FxWDcNnU_W8jXbh_Krm6Z4cxw442NxyRXiHw9jXgvrnH8vbxyewcws6vD1-1TFZqjVRB1WCK_a9wuymn6Vu89HDgFYHGtMW3AWth9mvgBp-NDZixFBJJ8RM5Nh_zDoxsFwO943DTc2XXSxLdDd9snn?key=x_WmVXOjKi8qdMCcUVob5w\" alt=\"\" \/><\/figure>\n\n\n\n<p><em>Chart 1<\/em><\/p>\n\n\n\n<p>The first wave count<em> (chart 1)<\/em> is that the recent all-time high is wave (i) of ((iii)). This implies a decline in wave (ii) of ((iii)) to correct the rally from September 6. The decline likely won\u2019t be larger than the Sept 2-6 correction of nearly 5%. Therefore, we can anticipate the wave (ii) correction to fall between $5490-5630.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXdv7FyB-k7nDzfAYFLma13Cx1dInI3NJf9ypJMJ78tTsd3Fb-FGeEtV122zPrsCcY9imNOO88dqfhDxu_tdwWCXVIS9bJTJUct7m00u_Ny35eEhKZHroxAr3CHpilokWQvd_wUP8NQRlLjMkqHr4Ti4GzNs?key=x_WmVXOjKi8qdMCcUVob5w\" alt=\"\" \/><\/figure>\n\n\n\n<p><em>Chart 2<\/em><\/p>\n\n\n\n<p>The second wave count (chart 2) is that the recent all-time high is wave ((b)) of 4. We shared this option in our August 9 forecast <a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/sp500-temporary-correction\/\"><em>SP500 Elliott Wave &#8211; Temporary Correction.<\/em><\/a><\/p>\n\n\n\n<p>This implies wave 4 to be a <a href=\"https:\/\/alchemymarkets.com\/education\/strategies\/symmetrical-triangle-pattern\/\">triangle pattern<\/a> with more sideways chop to appear. Under this second wave count,&nbsp; a decline would take place from near current levels to around $5300 in wave ((c)) of the triangle.<\/p>\n\n\n\n<p>Once wave 4 is complete in a few weeks, then wave 5 would rally up to new highs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>If a correction develops, we anticipate it to be shallow, retracing to $5300-$5630 depending on the wave count.<\/p>\n\n\n\n<p>Once the correction is complete, then new all-time highs are anticipated. The depth and structure of the correction will provide clues as to how high the next rally travels.<\/p>\n\n\n\n<p>In the unexpected decline below $5300, we&#8217;ll re-evaluate for other patterns that might be developing.<\/p>\n\n\n\n<p><strong><em>You might also be interested in:&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/nikkei-dark-days-for-rising-sun\/\">Nikkei Elliott Wave<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/quarterly-forecast\/q4-2024-equities-outlook-navigating-volatility-rate-cuts-and-global-growth-trends\/\">SP500 Q4 2024 (and Other Equities) Forecast<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SP500 stalls near highs but remains on track for new records after a shallow correction. Support emerges between $5300-$5630 using Elliott Wave analysis.<\/p>\n","protected":false},"author":160,"featured_media":6078,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-6077","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SP500 Elliott Wave: Stocks Slip, But the Bull Won&#039;t Trip - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"SP500 stalls near highs but remains on track for new records after a shallow correction to $5300-$5630, per Elliott Wave analysis.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/elliott-wave\/sp500-slip-bull-wont-trip\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SP500 Elliott Wave: Stocks Slip, But the Bull Won&#039;t Trip - 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