Market Update

by Avi Gilburt

Avi Gilburt

This page features Avi Gilburt's nightly analysis of the S&P 500. Articles are made available on this public page 72 hours after posted live for subscribers to Avi's Flagship and Nightly services. For Avi's complete coverage, which includes analysis of the S&P 500, Metals (GDX, GLD, YI), Oil (USO), and US Dollar, plus a wide range of market coverage by our analyst team and a live member discussion forum, please login.

A Lesson In Triangles

This article will be available to the public in about 2 days. To read it now, sign up for a free trial. Current members, simply log in.
by Avi Gilburt - 20 hours ago

Market At Next Inflection Point After Finally Breaking Down

After taking the long road and making us wait for the expected break lower, the market is now sitting at the next key pivot/inflection point to the downside. If we can break through this region, it would provide further confirmation that we are indeed following the primary white count lower as part of the larger wave 3 of (c) down.With that said, until we see a break of this next pivot level, I still cannot fully rule out the yellow count. I will note, however, that today's breakdown has made that path even less probable than it has been over the past several weeks.
by Mike Golembesky - 4 days ago

Is A Lower Low Out Of The Question Now?

Well, to answer the question in the title, I would say “no,” but the action we are seeing in GDX has made it more likely since we have broken through 77.So, let’s start with GDX. In order for us to see a lower low, I had to come up with a VERY creative count. And, when I say a “very creative count,” it means it is not something I would be trading aggressively. Rather, it simply means that if we are blessed with a lower low you would simply add more positions to the long-side.
by Avi Gilburt - 5 days ago

Market Still Keeping Us Waiting

The market is trading flat on the day after moving down at the open and then back up in the afternoon. We are still trading under resistance, and the action up off of the low still remains corrective in nature. This action keeps the parameters I laid out yesterday unchanged, and as long as we continue to remain under resistnace my base case is still that we will see this resolve lower before breaking out to new highs.
by Mike Golembesky - 5 days ago

Market Taking the Long Road Down?

Today, the market turned higher after testing last week's lows at yesterday's close, following the purple path that I laid out in yesterday's update. We are currently still trading under the resistance zone for that path on what remains corrective wave action off last week's low. So, as long as we continue to hold under that resistance zone, my base case will remain that we see this resolve lower to fill out a larger ABC pattern off the highs.If the market is able to break through resistance and move back over last week's high, it would open the door for a more immediately bullish resolution.
by Mike Golembesky - 6 days ago

Market at Key Inflection Point, but Pressure Remains Down

After moving higher overnight and into the morning session, the market turned lower, and we are now testing last week's low. That low represents a fairly significant inflection point, and if we see a break of that level, it would suggest that we have begun the next leg down of this move. If we manage to hold that low and turn back higher on five waves, then we may still need to push back over today's high before turning down once again. I will note that even under that scenario, since the move up off last week's low was clearly corrective, the pressure will still remain to the downside as long as we remain under the larger-degree resistance zone overhead.
by Mike Golembesky - 1 week ago

The Market Can Remain Sideways Longer Than You Can Remain Sane

Overnight, we tested the high that was struck on 7/10, only to be followed by a sloppy move lower. We are still over the key support zone I have been laying out over the past several days, and yet under key overhead resistance. So with that, the market continues to move sideways on what is still very sloppy and unreliable action, leaving us yet again in the same spot from an analysis perspective and with the parameters still unchanged. As shown on the ES chart, I still have support sitting in the 7548-7485 zone.
by Mike Golembesky - 1 week ago

Truncated Bottoms - Market Analysis for Jul 16th, 2026

I would probably state that truncated bottoms in EW structures are not reliable in the same way that I view leading diagonals as being unreliable. But, as of now, there is some potential that this could be seen in the metals complex. And, yes, I have seen this before in metals.But, if you have been reading what I have been saying of late, then you know my preference is to be layering into positions down here. I am personally still leaving dry powder for lower lows, as they complete their patterns more often than not.In gold and silver, we are seeing the potential for those truncated bottoms.
by Avi Gilburt - 1 week ago

Market Going Nowhere Slowly

Once again, the market traded below the previous high and over support, leaving us in limbo once again. With that, I still have very little to add to the previous analysis and parameters, so once again, I will reiterate what I noted in yesterday's update. There is really very little change to the parameters I laid out yesterday, so I am simply going to reiterate what I noted then.As shown on the ES chart, I have support sitting in the 7548-7485 zone. If we hold that zone and push back over the 7633 level, we are more likely following the yellow count, at which point the initial overhead target would come in at the 7800-7920 zone.
by Mike Golembesky - 1 week ago

Market Leaves Us Hanging for Another Day

After moving lower yesterday, today we saw the market move back higher. However, after what looked like a strong open, it faded back down quite quickly. We have since been grinding higher through the afternoon session; however, the structure of that move higher is very sloppy and not typically what we see when the market is ready to make a sustained break higher. In the end, we are left in a very similar position to where we were yesterday, still trading above support and below the previous high. Until we see a break below support or above those highs, we remain stuck trading between the lines and in a bit of no-man's-land.
by Mike Golembesky - 1 week ago
Down Arrow

Free 15-Day Trial

• S&P 500 Wave Analysis
• Gold, Silver, Oil & US Dollar Reports
• Stocks, Options, Cryptocurrencies & more
• Live Coaching & Webinars
CREATE A NEW ACCOUNT
No Credit Card Required
Previous or current members login here.
1 Free Trial per Person
By signing up you agree to our terms and privacy policy. You will receive access to our Trading Room, plus account-related emails and our weekend e-newsletter containing news, updates & promotions from ElliottWaveTrader. You can withdraw your consent at anytime.

OUR MEMBERS SAY ...

I live Finance. 80hrs a week corp finance. I trade as a hobby and in my opinion this is the best site in the world for someone to learn about markets... i rue the day when it is no more or its core is changed. there is NO BETTER SITE IN THE WORLD to get the off-cuff input/feedback/knowledge across ALL MARKETS like this site... Thank you to the analysts here who grind out thousands of charts each week.
"GibsonDog" - Trading Room
My faith in God and my faith in Avi and his team. God lead me to this service over 10 years ago. For a decade I have heard Avi point his bat at this very moment in time calling this S&P level. Though the years I have witnessed him point his bat months, even years before metals hit their highs and lows with almost perfect big picture accuracy. Against every other analysts opinion. I have seen him bullied relentlessly on his public articles on SA and stick to his guns and proven so correct with no one ever apologizing or admitting he called it.
"sdmavrick" - Seeking Alpha
My AUM has grown exponentially because of you and I can't thank you enough. My biggest regret is not signing up sooner! You've done more good than you will ever know.
"AAMilne" - Trading Room
I’ve subscribed for 5 years now and I have to say I see that you’ve been right on this the whole time. Who would’ve thought gold and silver would’ve rallied with rates this high for this long and the markets continued higher as well. Always thought your charts were good but always thought in the back of my mind that rate cuts and other news actually led. So now that I’ve admitted defeat u are free to gloat. Well deserved
"Lil_G" - Seeking Alpha
I worked on trading desks at top investment banks for 10 years, then traded on my own for another 8. I've seen 100s of research from the best analysts in the business. Avi and EWT is the only one I'm willing to pay for right now.
"tzeyi" - Seeking Alpha
“I was 100% in equities and been killing it for 2 years, but I heeded your warning and took everything off the table. I've been cautiously trading your recommendations and now when everyone I know is getting wrecked, I'm still profiting. Thank you so much for what you do, my family and future are safe because of it.”
"DoctorBeat" - Trading Room
This service has not only made me money in trades but equally important it got me out of the market before the meltdown.
"BigDaddyTuna" - Trading Room
"Your service and insight is phenomenal, and has definitely changed my outlook on the market. I’ve been actively working on recruiting new members to your service. It’ll save their financial life."
"Bidking82" - Trading Room
"Today, I achieved my highest weekly profit ever ....I see this as a testament to the power of the guidance available here. I ignored all narratives and traded the charts with discipline. I set clear parameters for each trade, immediately placing OCO (One Cancels the Other) orders with both stops and limits. I made some adjustments as the charts evolved, but kept the orders in place, and allowed the process to unfold. Sincere thanks to all the analysts and members who help make this such an incredible community—especially Avi, Zac, Mike, Levi, and Garrett. I'm incredibly grateful!"
"Dre-" - Trading Room
CNBC had a stat this morning that over the last 20 years 86% of money managers/hedge funds have underperformed the market. They couldn't figure out why that’s the case given how 'smart' these people are. . . . I know my performance since joining the site has skyrocketed!
"HenryH" - Trading Room

  Matched “”
x