If you were watching the markets this morning or were caught unprepared for the huge CPI numbers (which lag), you were probably sweating bullets watching the NQ fall 400+ points in just a few minutes. These reactionary types of price swings can be very dangerous for some traders - especially right now. But, I want to alert you that the NQ has rallied nearly 200+...
Dow Futures (YM) shows incomplete bearish sequence from 1.5.2022 high favoring further downside. The decline from 8.16.2022 high is in progress as a double three Elliott Wave structure. Down from 8.16.2022 high, wave A ended at 30975 and rally in wave B ended at 32789. Index extends lower again wave C towards 28635 which completed wave (W). Rally in wave (X) is...
I find it very interesting that my Cycle Patterns predicted the following more than 2 years in advance of this move.. 9-26: Breakdown 9-27: Harami/Inside 9-28: CRUSH 9-29: GAP Potential 9-30: Top Resistance 10-1: Consolidation 10-2: Temporary Bottom 10-3: Gap Reversal 10-4: Breakdown 10-5: BreakAway 10-6: Rally 10-7: Carryover 10-8: Bottom 10-9: N/A 10-10:...
Here are the new cycle patterns for next week and beyond. Let's see how the market react to the Excess Phase Peak Phase 3 support (June lows). Failure of this pattern at this point could prompt a big move higher. 9-23: Momentum Rally 9-24: Rare – Major Reversal 9-25: N/A 9-26: Breakdown 9-27: Harami/Inside 9-28: CRUSH 9-29: GAP Potential 9-30: Top...
My cycle patterns suggest a rally phase is likely over the next 7+ trading days - but, the trend is very bearish today. It is almost as if the markets are flushing out stop levels - actively seeking a support level near the June 2022 lows. It will be very interesting to see how the market ends today. If we see a big recovery rally into the close, it may support...
That means the SPY should find immediate support (after it appears a big GAP downward reflecting Europe's recession concerns). Here's a little hint: Bitcoin will likely rally along with the SPY/ES and others over the next 7+ days. The strength of the US economy/US Dollar may drive global investors into US assets and safe-havens throughout the end of 2022 -...
Is it really that hard to believe that tomorrow could shift gears and move into a moderate momentum rally after the Fed raised rates 75bp? What I find incredibly interesting about these patterns is how they can paint a very clear picture of the opportunities and shifting market trends. Each day is clearly defined (except for the N/A days). Each day paints a...
FOMC @ 2:00 PM EST reaction will see one of 3 Events: 1. 75BPS is priced - leading to a move higher to recent intra-week Highs. 2. 75BPS is priced - leading to a tighter range into Powell. 3. 100 - 125 BPS is not priced - leading to a breakdown and a VIXplosion to 31 and VIX Curve inversion. Powell's conviction @ 2:30 PM EST sets the Equity Complex in...
Weekly Engulfing Charts are clearly not a preferred look for the Buy Side and those riding the Bullish Tilt-O-Whirl - Bodies are being flung everywhere. The Dollar is doing its thing, it ran to our PO at 107.65 with a 107.67 print and reversed yet again. it's been a pattern as the EuroDollar continues the ties that bind, Dollar shortages create demand until the...
As you know, I have these setup 4+ years out into the future and continue to identify new RARE and UNIQUE patterns as time allows. I'm even up to 5~6 bar setups in some of them. Yet, next week shows a very interesting set of Cycle Patterns... 9-19: Inside/BreakAway 9-20: BreakAway 9-21: Carryover (Possible Reversion) 9-22: Inside/BreakAway 9-23: Momentum...
Today will likely be a carryover of yesterday, setting up tomorrow's TOP pattern. Because of this, I expect a bit of a rally phase today (rebounding off the lower support channel) and possibly attempting to move above 395 if there is substantial buying activity. Yes, the Fed decision is near, but traders are still using the US equities market as a hedge against...
My cycle patterns suggest today is a Reversion/Reversal/Rally day. I know it may seem strange to think that the US market may rally today after the CPI/PPI inflation data and the pending Fed rate increase - but it is what the cycle patterns say it is. Remember, these patterns originate from a date 3+ years ago and just tell me what to expect from price on certain...
Short term Elliott Wave view on Dow Futures suggests the decline from 8.17.2022 high is unfolding as a zigzag Elliott Wave structure. Down from 8.17.2022 high, wave A ended at 31221. Wave B corrective rally ended at 32791 with internal subdivision as an expanded Flat structure. Up from wave A, wave ((a)) ended at 32029. Wave ((b)) extended below wave A in 3 swing...
Cycle patterns indicated a GAP/TOP for Monday/Tuesday. Then, they indicate a potential reversion/rally for Tuesday/Wednesday. After watching the deep selling related to the CPI numbers, I would not be surprised to see a very strong rally/recovery over the next 48 hours in the SPY and other US Indexes. News-based reactive moves like this are often erased over the...
Pay attention to my research. These cycle patterns are proving very accurate. Stay tuned for more incredible research.
The USD pulled back overnight on the ECB's 75 BPS Hike, until the October 21st FOMC Rate decision is announced the DXY can easily see downside pressure. Traders began to move against the Dollar as Major Asian Markets opened and again - ahead of the EU Session open @ 3 AM EST, by 3:30 AM EST. The Inversion lift was provided to the ES NQ YM RTY GC & SI @ 3 AM...
Higher lows are required to provide the Flip into Higher Markets off of the Lows at the 390.85 Level. 394 is backtesting Support 399.50 is the initial Resistance. Powell Speaks at 9:10 AM EST after - 8:30 AM EST to provide both Initial and Continuing Jobless Claims. Chicago Fed President Charles Evans speaks @ Noon, followed by Consumer Credit @ 3 PM...
My analysis suggests Bitcoin needed to move below the $18.9k level in order to setup a new momentum base - then launch to levels above $25k (possibly targeting $30k or higher). I suggest Bitcoin traders start to look for a base/bottom setup below $18.8 (if possible) as I expect a very big rush to safety taking place over the next 60+ days. I believe this flight...