S&P Elliott Wave 4 ... How Low is Next SUPPORT Level? | Elliott Wave S&P500 VIX Technical Analysis

This week, Rob's Elliott Wave Analysis for stock, crypto and option traders dives into crucial updates about the U.S. market. We've seen some significant moves with the SPY dipping below the critical 500 level, pointing towards potential further declines. This follows a tumultuous night with geopolitical tensions affecting market dynamics, especially following Israel's response to Iran, impacting overnight futures before a recovery.
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:: Sections in this Video ::
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00:00 - Introduction
00:27 - SPY
07:09 - VIX
08:46 - DIA
10:32 - QQQ
11:45 - IWM
13:24 - Bitcoin
17:30 - TSLA
20:13 - BA
21:31 - COIN
23:01 - AMZN
24:21 - NFLX
25:32 - USO
26:55 - TLT
28:40 - GLD
31:08 - TradeFinder
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Today, we've noticed the markets rebounding slightly, but we're still in a corrective phase as indicated by Elliott Wave theory, which suggests a market correction once we pass the 23.6% Fibonacci retracement level. Our analysis shows we're approaching the 38.2% level, confirming this corrective trend.
In technical analysis, we're seeing a crossing of the 10-day and 30-day moving averages, signaling a potential change in trend. Market resilience is being tested, with the SPY now aiming for lower support levels, possibly around 475.
Economic indicators remain strong, which suggests little reason for the Fed to cut rates soon. However, market reactions could pivot based on upcoming economic reports like the PCE report due later this month, which could significantly influence market sentiment and direction.
Geopolitical calm seems to be returning after a spike in tensions, which might stabilize the markets temporarily. However, with the market’s recent volatility and technical indicators pointing to continued caution, it's a critical period for traders to stay alert and responsive to both economic and geopolitical signals.
For a deeper dive into specific stocks and sectors, as well as detailed chart analysis, make sure to stay tuned and leverage tools like Elliott Wave analysis to navigate these turbulent markets effectively. Remember, staying informed and adaptive is key in these dynamic market conditions.

[@traviswes7082]

Stock market’s historical performance estimate that over time, the payment (and reinvestment, and compounding) of dividends have contributed anywhere from 30% to 90% of the S&P 500’s total returns. I want to spread $400,000 into profit yielding dividend equities but unsure of which to get into.

[@alicegomez7232]

Explore the option of engaging financial advisors, estate planners, or tax experts. Their specialized expertise can assist you in navigating intricate financial decisions.

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[@wellsHannahh]

Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@mesutserim1595]

Amber Russell Bennett is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@Blitcliffe]

Thank you for the lead. I looked her up and sent her an email. I hope she responds to me soon.

[@Howardjensen1]

BTC can disregard techincals when in a bull, did that in 2020 when it crossed previous ATH... stayed there a few weeks and continued pumping like crazy to 60k. Also, there is one constant... when around 90 on monthly RSI, the end is near. And don't expect crazy price targets of 500k... expect around 100k at most and be happy if there's more after that. If you believe big boys and CEO's of big invesment firms saying targets like 1M this cycle.. you deserve to be their exit liquidity..It's not about guessing the market's next move; it's about playing it smart and steady during trading...managed to grow a nest egg of around 2.3B'tc to a decent 21B'tc in the space of a few months... I'm especially grateful to Linda Wilburn, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[@Howardjensen1]

She's often interacts on Telegrams, using the user-name.

[@Howardjensen1]

@Lindawilburn

[@Mikeygrady]

I appreciate the professionalism and dedication of the team behind Linda’s trade signal service.

[@georgigeorgiev6521]

Trading with an expert is the best strategy for beginners and busy investor s who have little or no time to monitor their trades.

[@hollycarter3594]

Nice, I was just hodling before I found Wilburn. In my opinion she is the very best out there.

[@RaghuvirMohanta]

When you work on something that only has the capacity to make you 5 dollars, it does not matter how much harder you work - the most you will make is 5 dollars.❤

[@faysdt414]

People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

[@MeliszaMagalyMezaEspinoza]

Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

[@katiekilbo]

Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian.

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Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

[@vanillatgif]

Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

[@WelseyWalker]

How does this trading stuff work? I'm really interested but I just don't know how it go about it. I heard people really make it huge trading..

[@adamdouglas9888]

As a beginner, it's essential for you to have a mentor to keep you accountable. I'm guided by Stacey Macken a widely known crypto consultant

[@lea5898]

Sincerely speaking. I will continue to trade and stick to Stacey Macken daily signals and guides as long as it works well for me.

[@Georgina705]

Getting advice from financial advisors, like Stacey Macken , can be a smart move to reshape your portfolio. She has the expertise to help you make informed decisions.

[@LindaHarmel]

Her technical analysis is excellent and hid interpretation/projections of the market is so accurate I sometimes ask myself if she is human haha. Point is, Stacey is the perfect trader to follow for advise and daily signals.

[@wells7147]

What impresses me most about Stacey Macken is how well she explains basic concept of winning before actually letting you use her trade signals. This goes a long way to ensure winning trades.

[@TomatoFest]

Thank you so very much! I watch each week and find your information very valuable. Happy Birthday Blake!

[@robroy3343]

Thanks for the comment and the post!

[@AC-pr2si]

Great video Rob.Happy Birthday Blake.

[@robroy3343]

Thanks for the post!

[@michaeloneill5420]

I spent 40 years on Wall St., fortunate enough to work with many great technicians from Gould, Farreal, Precfter. I enjoy your work. Sorry typing is hard for me.

[@stephennixey]

Wishing everyone good health and wealth! Happy Birthday Blake!

[@lewisdram]

Thanks for video Rob. You trade Finder has great ideas

[@robroy3343]

Thanks for the comments and the post!

[@josephjames4027]

Appreciate your commentary and tech analysis Thanks Rob

[@robroy3343]

Thanks for the comment and the post!

[@dougmoore7130]

Rob you always have great market insights. Thank you

[@robroy3343]

I appreciate and the post!

[@willdixon5019]

Learning alot thanks to your analysis. Thanks for sharing your insights.

[@robroy3343]

I appreciate the comment and thanks for the post!

[@pxp7773]

Thank you for all the updates you give us for free! ❤

[@robroy3343]

Thanks for the comments and the post!

[@jalondon3]

Happy Birthday Blake! And Elliot Wave w/ Fibs is the way!

[@robroy3343]

Great and thanks for the post!

[@kohchoy5695]

Thank you Sir, Keep up the good work . THANK YOU

[@robroy3343]

I'll do my best, thanks for the post!

[@winbett]

Love your market updates , looking forward to bitcoin info on Tuesday

[@robroy3343]

Thanks for the comments and the post!

[@georgezipp8783]

Thank You

[@djslaugh]

thanks Rob! and Happy Birthday Blake!

[@robroy3343]

Thanks for the post!

[@dirkbamelis4746]

I specifically appreciate the extra insights I get every week about meaning of the macro economic data and their (possible) impact on equity prices. You have a way of explaining this very clearly. As a suggestion for a stock to cover, I would love to see an analysis of ASML. This is probably Europe's most influential tech stocks ATM. (It is also traded on NASDAQ so it can be analysed in the HUBB platform).

[@robroy3343]

Thanks for the comments and the post! I'll work in ASML next week.

[@yuanyao7801]

Thanks so much for your sharing and great analysis! Rob. have a great weekend

[@robroy3343]

Thanks for the comments, the post and right back at ya!

[@pkt57]

Great insights as always Rob!

[@robroy3343]

Thanks for the comment and the post!

[@gighilton]

Great Analysis trading the market, not your opinions... smart!!!

[@robroy3343]

Thanks for the comments and the post, much appreciated!

[@emaworks99]

As always, great analysis!!!

[@gavnonadoroge3092]

thank you

[@robroy3343]

Thanks for the post!

[@patjones4660]

Thanks for the show, Rob.

[@robroy3343]

Thanks for the post!

[@ErikJThompson]

Good video Thanks ! the wave is something I would like to try. Just retired from Truck Driving and Trading full time...

[@richardmansfield1013]

thanks for your hard work

[@robroy3343]

I appreciate the post!

[@funwithimandiv3867]

Excellent analysis. thanks

[@robroy3343]

Thanks for the post!

[@LuPos557]

Thanks for your ongoing great analysis

[@robroy3343]

Thanks for the comment and the post!

[@korayyavas4104]

Thank you , great vids. love eliiot wave

[@robroy3343]

Thanks for the comments and the post!

[@truthseeker5652]

Another great video by “Chuck Norris”

[@robroy3343]

Always love the Chuck comments. It's amazing how often I hear that, not just on KZbin, but in life in general. Thanks for the post!

[@wblack6186]

good job, thx for the view

[@robroy3343]

Thanks for the comment and the post!

[@phil4bama]

Thanks for what you do

[@robroy3343]

Thanks for the post!

[@davidfischer-of3uk]

Rob great info Thank you

[@robroy3343]

Thanks for the comment and the post!

[@nina-v]

Thanks as always!

[@robroy3343]

Thanks for the post!

[@richardando7081]

You are the real deal Rob!!! Best regards from your good neighbours in the great white north!

[@robroy3343]

Thanks for the comments and the post! Is it warming up there yet?

[@richardando7081]

Just barely, 48F 🥶

[@davidcannon463]

Nice job today thank you!

[@robroy3343]

Thanks for the comment and the post!

[@donaldatkinson4165]

Happy Birthday Blake!

[@ronaldlandwerlen1301]

Good insights. Thx

[@robroy3343]

Thanks for the post!

[@larryc9214]

great video as always👍

[@robroy3343]

Thanks for the comment and the post!

[@luke-mc9dt]

Hey Rob, Your nickname here is Chuck Norris. Not bad. Have a nice day

[@robroy3343]

Thanks, I always appreciate the Chuck Norris references! Thanks for the post!

[@hackbanknifty]

in hub investor software EW is not showing. and you are using hubb integrated.

[@bigboy19261]

Most underrated channel

[@AdaptiveInvestor]

Great Analysis!

[@robroy3343]

Thanks for the post!

[@davidfischer-of3uk]

Rob this is great info

[@robroy3343]

I appreciate that, thanks for the post!

[@meetoo1922]

Happy Birthday Blake

[@robroy3343]

Thanks for the post!

[@donnydimo113]

Hey just wanted to say you have been a great help to me as I start my trading journey with me being so young. I'm happy you also talk about bitcoin as a real deal with so many people thinking of it as some sort of shame and I cant wait to tune in and hear your go to guy on crypto on Tuesday.

[@robroy3343]

Sounds great, my crypto guy knows his stuff and I think you will enjoy it. Thanks for the comments and the post!

[@ArazJakalian]

Happy Birthday Blake :)

[@haldx]

Thanks Rob. The NFLX earnings reaction makes me think this will be a long correction.

[@robroy3343]

It does seem that could be the case......that was a very good earnings report and was sold off. Thanks for the post!

[@kentcontreras4692]

I've traded for over 10 years and Rob is by far the only trader on a KZbin channel that isn't spreading non-sense. I believe the start to this conflict will be the impetus to lower rates sooner, since that's what the banks need and wallstreet wants to continue the bull market. Personally, I don't believe that inflation is the FED's concern as much as keeping the banks and bond market happy.

[@dudewheresmyguitar21]

Doesnt seem likely…why would this silly little mini war cause rate cuts….? Its basically over already iran cant do anything

[@kentcontreras4692]

@@dudewheresmyguitar21 For the same reason that big news events always coincide with market moves. If they didn't want them it wouldn't be news. And market moves happen because the large liquidity players already want them.

[@robroy3343]

Thanks for the comments, much appreciated! Thanks for your take as well!

[@robroy3343]

@@dudewheresmyguitar21 I'm not sure that I agree that any war is "silly".......things have a way of escalating when least expected. I do appreciate your take and the post!

[@user-tc9wn2tn3j]

Nice!

[@robroy3343]

Thanks for the post!

[@highlytenacious7608]

Nice analysis

[@robroy3343]

Thanks for the post!

[@MarkWTK]

happy birthday Blake 🎉 🥳 hope you had a good one :D

[@michaelmcgee5276]

Great material and 🎁

[@robroy3343]

Thanks for the comment and the post!

[@sptrsttradr4918]

Thanks Rob! I'm loving the beta version and being able to use it to check my own ideas/positions! I'm a new Ai sub and I'm guessing the lack of trades this past week, just shows the intelligence of the system as in not getting high enough scores in either direction?

[@robroy3343]

You are 100% correct. There are bearish scores coming up, but the scores just aren't high enough......yet at least as they are getting there. Thanks for the comment and the post!

[@richardsobe9476]

Happy birthday Blake

[@robroy3343]

Thanks for the post!

[@GeminiOneFive]

I had been trying to load up on a variety of tickers/puts starting 3 weeks ago. I was able to get some inexpensive premiums until last week into this week (which is when I knew it was getting close). Even though I was confident these stocks would correct by 4/26, there are no guarantees, so it made it more difficult when the risk(premiums) increases for the same reward. Time will tell if I was right.

[@robroy3343]

You are correct, IV has definitely been injected into put options.......especially when even the smallest of bounces takes the extra premium away. For that reason, I tend to move in and out of long puts rather quickly. Best of luck on your trades and thanks for the post!

[@GeminiOneFive]

@@robroy3343 Thanks Rob, I had a Put BFly on SMCI and it blew right past me... What's interesting is, I always have sell orders in place, but for whatever reason it never filled my sell order, so now I have to decide if I think it will bounce by Friday or not

[@investmentmadeeasier1875]

Thx Rob....Tesla looks good for 125 & maybe 75 the 168.2 extension?

[@byoung4ever2]

Hi Rob, I wonder how some of the Stocks and ETFs in the market can be at different Fib levels. Eg: some ETFs like the QQQs have hit a wave 5 and the SPY is looking to confirm a wave 4 to make a wave 5? The markets move somewhat in unison and I can't figure out the disparity between them, thanks...

[@meyersr78]

Can you guys post a link for the beta?

[@borisbulldog]

How come mt Hub charts won't show the EW lines like on Rob's chart?

[@AP-yl1ih]

signed up for hubb beta version. Cool software. Is there any user manual or guide that says when the wave is complete and when the new wave starts?

[@johns3668]

I'll be impressed if we see a wave 5

[@elliotturbina7739]

I’ll be impressed if there isn’t a wave 5. You must be new. It’s like being impressed if the sun comes out

[@robroy3343]

I think once we get some more clarity on when the Fed will start looking towards rate cuts again, we will likely see that Wave 5 begin. The current question in my opinion is: "How far with this correction go?" Thanks for the post!

[@robroy3343]

@@elliotturbina7739 True, the Wave 5 will come eventually. Thanks for the post!

[@williewest5574]

Ima postin big Rob

[@robroy3343]

You're in the drawing, thanks for the post!

[@Neon806]

Love EWO!

[@robroy3343]

Thanks for the post!

[@kingt5007]

Happy birthday Blake 😊

[@robroy3343]

Thanks for the post!

[@jjr6461]

I've been trying to figure out what the percentage value means. Is that related to the Fibonacci series value? For example what does 33.71% mean in your SPY graph?

[@neilbyrne6776]

Looking to buy the dip

[@robroy3343]

We are getting a little oversold short term, the question is how far will the correction go? The old expression, don't try to catch a falling knife. My opinion is that the market will resume the uptrend (Wave 5 higher) once the market starts looking again toward rate cuts. Thanks for the post!

[@MrLancel0t]

Inflation report on Thursday, CPE on Friday.

[@robroy3343]

Yep, there will likely be some volatility at the end of the week! Thanks for the post!

[@MikeMawhinney]

Dude solid video 🤙 can you do nividia??

[@robroy3343]

I will add it in next week, thanks for the post!

[@WetWillieBBQ]

Keep making videos.

[@robroy3343]

Will do my best, thanks for the post!

[@markusspiegelberg8063]

Btc block reward cut in half at the having. Not the “supply” of BTC. But fees on chain are skyrocketing

[@robroy3343]

I don't pretend to know the semantics when it comes to BTC, but I do know the word is spelled, "halving." I'm looking forward to the crypto expert on this week's TradeFinder meeting. Thanks for the post!

[@markusspiegelberg8063]

@@robroy3343 ha ha I deserve it! Just wanted to spell it like it sounds

[@Morales_HM]

It was a pretty wild evening. Oil spiked, bonds spiked and equities down.

[@robroy3343]

Agreed, it was pretty wild. Rough day Friday for the big tech stocks. Thanks for the post!

[@r35gtrguy69]

👍

[@robroy3343]

Thanks for the post!

[@user-jv9qz2bu1r]

given we have a contentious election in November - too much uncertainty to go UP

[@robroy3343]

Thanks for your take and the post!

[@sashahanna1870]

Can you speak about old open trades that all remain open that are at big losses in EWO platform. I have notices that these are never accounted for. It seams that they remain “open” to avoid realized losses especially for the websites track Record

[@robroy3343]

The programmers are working hard on the new platform and integrating it with the AI. The older trades will be incorporated into the performance pre-AI once time allows, that's why they are still sitting there. Our focus since Sept '23 has been on the AI performance. Thanks for the post!

[@emperorsnewclothes2429]

Does the Hubb EW predict the next wave before it happens?

[@robroy3343]

The way the algorithm works is as soon as there is enough data to label a wave within the algo to label a wave, it will appear on the chart. Nothing is 100%, but the wave will be labeled as soon as the algo feels the wave is likely to play out. Thanks for the post!

[@vladbelch3981]

Love to ride the Elliot wave!

[@robroy3343]

Thanks for the comment and the post!

[@foundtreasures2023]

nice hat!

[@robroy3343]

Thanks! It goes along with the whole Chuck Norris references. Thanks for the post!

[@joeytrubnick]

ULTA, ELF, CELH

[@robroy3343]

I'll get in as many as I can next week, thanks for the post!

[@eddaloia6075]

Rob what is the symbol for bitcoin I used btcusd, $btc, and $btcusd these did not work

[@AerykWilliams]

🙌🏽

[@robroy3343]

Thanks for the post!

[@willaerley7140]

Anyone know what happened to NVDA? Just rumors?

[@phil4bama]

Just a flight from high beta, high P/E stocks and into more conservative securities I think.

[@turbofanlover]

Profit taking after an insane ride up. It was just a matter of time. The question is how low will it go now.

[@robroy3343]

In my opinion, all the big tech stocks fell hard yesterday when SMCI posted their earnings date without raising guidance as they've done in the past. Also, in a market correction, the high beta names tend to fall harder. Thanks for the post!

[@robroy3343]

@@phil4bama Agreed and see my comment to @willaerley.

[@robroy3343]

@@turbofanlover Agreed and see my comment to @willaerley.

[@johncughlin]

Hello Rob , do you run a discord community?

[@jjssjklmnop]

NFLX was a growth stock, no longer so as per growth, even though earnings increased and therefore the drop.

[@robroy3343]

The subscriber growth was 16%, so when you say "no longer as per growth" what exactly are you referring to? Thanks for the post!

[@Notaslave1961]

International capital seeks blue chips, not domestic US issues. Lot's of capital wants to flee into US from over-seas. Martin Armstrong.

[@robroy3343]

Valid point, thanks for your take and the post!

[@austinw8]

I don't think past chart history has much relevance to Bitcoin now. The market participants have changed, it looks like we're in uncharted territory literally!

[@robroy3343]

I appreciate your take, thanks for the post!

[@Notaslave1961]

There seems to be nothing "normal" about these markets, currency, bonds and stocks.

[@robroy3343]

We're in a state of transition as the possibility of rate cuts is being pushed out.......in my opinion. Plus, a correction was certainly due. Thanks for the post!

[@eddaloia6075]

how about Bitx

[@robroy3343]

I'll do my best to get it in next week. Thanks for the post!

[@larrysmith2608]

We have enough for wave 4 so dont get greedy. shes bottom out. you could go long this week back to 540s by FOMC for Wave 5

[@robroy3343]

Thanks for your take and the post! We are getting oversold short term, so maybe a quick bounce. In my opinion, the Wave 5 will start moving back up if the PCE report on the 26th is tame and/or when the market starts feeling a better consensus on when we can expect rate cuts again.

[@larrysmith2608]

@@robroy3343 Agreed! excellent job! on the daily still on downtrend but getting oversold. was a great short at 520s. at 540s (end of wave 5) will be the short of 2024!

[@ramadasa77]

🙏👍🤗

[@robroy3343]

Thanks for the post!

[@humbertovazquez1479]

👍🙏☝️💪👊👏💯

[@robroy3343]

Thanks for the post!

[@Pipsanity]

No DXY?!?

[@robroy3343]

I mentioned it, I just didn't show the chart as the recording was getting rather long. I will show the chart again next week! Thanks for the post!

[@JonnyZuccs]

Im seeing strong support at 2600 hbu guys?

[@robroy3343]

On which market are you referring to? Thanks for the post!

[@urthangel6229]

Chuck Norris

[@robroy3343]

LOL, always love the Chuck Norris references! Thanks for the post!

[@timlewis4667]

Hope I win!

[@robroy3343]

Good luck to you! Thanks for the post!

[@richardando7081]

Btw, could you share your insight into $NAIL & $AVGO? Thanks a bunch!

[@robroy3343]

I will add in what I can next week! Thanks for the post!

[@richardando7081]

Thank you good Sir! You are the MAN!

[@inarisound]

E

[@zazzleman]

Bitcoin has to drop a bit first.

[@robroy3343]

More than it already has? I'll be interested to see why our crypto expert says during TradeFinder on Tuesday. Thanks for your take and the post!

[@zazzleman]

@@robroy3343 $52k

[@gamaTamarama]

Elon wants more Tesla shares 😂

[@robroy3343]

LOL, yea because he has sold so many to buy "X"! He can definitely get them cheaper now! Thanks for the post!