Wave 3 in S&P500 materials indexThe S&P 500 Materials index set out an impulse move(1) in October last year and completed the up move move by Jan 2023.
The index thereon was in a corrective phase throughout most of the current year until recent oct. low.
The correction according to Elliot wave model can be categorized as a "flat".
Materials Sector approaching critical highsWithin the US sectors space, we are seeing continued strength and outperformance (relative to the SP500 Index) in Energy, Financials and Industrials.
However, there are early signs of improvement now appearing in the Materials sector, as prices extend the break above the 310.18 high of August. Focu
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Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.