On the log scale, there's a clear trend channel. However, the action that occurs within each quarter varies predictably-- after about 40 days into the quarter, any trend that has formed gets broken. Green vertical lines are a day after quarterly reports, white lines are when the trend for that period gets broken. Arrows are overall market events, which cause...
1. Bat Pattern completed on 3-Nov, Went Down After that but again bounced back. 2. Bearish Divergence in Daily, Weekly and Monthly Charts. 3. FED meeting in December, Consumer Confidence & GDP Data on 24-Nov Employment on 4 Dec, Stocks tend to fall 20 days Prior to FED meeting (Just an Observation). Scenario 1 - S&P will hit 20 Degree Slope @ 2100 and...
The $ES is looking weak. The bounces have been feeble and with low volume. What started as a wedge has evolved into a flag and this points to lower prices. We WILL NOT take the break of the flag. We will wait for the break and look for pullbacks on a smaller time frame (60 min) to trigger us short. NO TRIGGER, NO TRADE!
Bearish Crab This is the bullish argument! It's a must for the bulls to make a higher high.... full stop or a lower high has been put in. This chart support the weekly chart (see link below) for a ending EW diagonal ending at 2158. At that level the price have made a overthrow of the upper trendline in the ED but is fully valid. Notations on...
Cupid just shot an Arrow New eyes on Broken Arrow. Count has ben lowered 1 degree. The Ending Diagonal looks more right and more harmonic on the weekly chart. See links below. You may ask... but...but what about. The Ending Diagonal allows a overthrow in the 5th wave. That is what we are seing. Why this "overthrow? Because bulls need to be convinced off clear...
Bullish Count Within the Elliott Wave ending diagonal! The chart I call Broken Arrow this is what I see could happen. It's been one messy chop - almost impossible to count. But from the dark emerge this bullish possibility! The SP has made a wave 4 bottom at 2070 as a double zig-zag and now carving out the last 5th wave. Why... I can't count latest down move as...
As long as SPX does NOT go up through the "big grey zone" this should be THE top of the current bullmarket of SPX since march of 2009 (6 years back). This grey area represents a fibonacci ext level all the way back from 666/667. So if not taken out...welcome to the coming bear market. Disclaimer: a possible QE4 from the FED could negate this idea, inflating the...
Chart is done...worked.. Price has moved on Thanks for the thumbs up!!! Corrective waves is a-b-c and not 5 waves. I was looking for a 3 wave retrace down for a b-leg retrace, but looks more and more like a 5 wave structure. Time will tell. Remember this instrument is a derivative of the SP500. Therefore expect some differences. Fear not... believe what...
Broken Arrow SP are in the final stages of wave 5 in an Ending Diagonal ...just before "Broken Arrow". The chart above shows the final A-B-C in an Elliott Wave count having 5 waves up from 666,79 As FED-chair Ms.Yellen just proclaimed for the 2nd time... Stocks are overvalued. First time was the signal for preparing - cause FEDs trading desk will pull out...
Alright, I don't like to be that guy that always thinks that he's smarted than everyone else and likes to try to predict the next big market downturn. Nor do I like to be that guy that writes the previous sentence to feign humility all the while thinking he's doing God's work (Lloyd Blankfein). That being said, here's a chart with two distinct patterns that...
$SPY average trade size picked up in wks 2 & 3 of February leading to weakening in the S&P 500. Now churning between $213.40 resistance & $207 - 208 support. I would expect much churn back and forth ahead of FED rate (possible tightening) announcements. Likely distribution for many months up here.
$ES_F still above support with churn and holding. Rollover is coming. Pro positioning will be key. #2 Excess supply sig on 2015.02.25. Major macro econ events (FED rates) coming that will affect equities.
RIG is coming of divergence that sent price breaking resistance with momentum confirming the move higher by also making higher highs. RIG has since pulled back to a .618 retracement. I am looking for price to move past its most recent leg higher and test the 127 projection of this leg. With stops placed below the most recent swing point low, this trade offers a...
Longs triggered in the ES. Like the NQ first targets were hit on Friday. Next target for us in the 2120 area. This has potential of being a really good trade. Stay tuned.
This chart shows a confluence point with my "Santa" chart at the 2074 handle. It's the ABCD Gartley harmonic target for the 666,79 low to the top of a possible Elliott wave ABC leg up to reach 1370,58. D comes in at the 2074 handle. RSI is at oversold levels.... but could stay there on a monthly chart for another couple of month. Last time around in 2007 RSI hit...
The S&P 500 is still ripping & is still going up. Puttin up shorts is against the trend & can lead to margin calls. But could the S&P500 bullish trend ending soon? It looks like an ascending wedge, a short would be great if the trend changes. All the indicators are still green & it did not broke out of the ascending wedge. But we know.. what goes up will go...
Count on the chart...speaks for it selfs. I'm long at the moment but 2025 seems to be where wave 5 will have resistance... If we then see a shallow retrace this wave 5 could be wave 1 of 5 ....and a parabolic move could be at our hands Time will tell .... as all ways! Safe trading @BLawrenceM Music at work: www.youtube.com open.spotify.com
the graph speaks for itself? Short between 2008 and 2019?