I have a hard time ignoring how we have crashed into resistance here at the rate and strength we have. This should lead to a few scenarios that could play out. This next week will be critical to overall direction. Generally in my experiences when we approach support or resistance at this pace its tough to get rejected back out.
If your bearish (which I am) your ...
Today the McClellan Summation Index,
an Intermediate measure of Breadth/Volume on the NYSE
gave a BUY Signal, going Positive, for the first time since
Oct.5,2018 with a reading of 77.26.
Technically that confirms a strong Breadth/Volume BUY Signal on the stock market
as measured from the 2940 All Time High, on Sept.21,2018 to the Dec.26,2018 Low of 2346
This is ...
Momentum,the fuel needed to propel the stock market higher,
over a sustained long term time period peaked,.. almost a years ago
As shown by the Point and Figure Rate of Change ( ROC) Yearly Chart
(Included here for illustration), momentum in the market peaked
in January 2018, at the 2820 area in the S+P ...
Re-posting for anyone who missed it earlier in the chat room...
Here is a Logarithmic Fibonacci analysis assuming PRIMARY WAVE 1 was from March 2009 lows to April 2010 highs. (Alternate count is that P.1 extended to 2011 highs, but long-term fibs don't really match the structure since then.)
First please review the "Fib Pinball" structure as outlined here: ...
Trying to make heads and tails of the price action in the markets. The Elliott Wave count I’m getting is a series of running b waves with lower highs unfolding with an oncoming major wave down right in front of us.
Monday is Martin Luther King day with the US markets closed. I’m expecting a rally above the Minuette a wave highs of mid-December and a challenge ...
Once we hit that trend line its time to sell and short the Market. I think next week selling will resume once we break down from current Bearish Rising Wedge. 2500 level might induce short rally but I have a feeling wont hold and we are going lower!!!!!
1) yellow line is trendline from lows in feb/mar 2018 (neckline of 2018 head and shoulders pattern) Notice that we closed right ON TOP of it Friday.
2) Large downward channel (hypothetical) drawn using daily closes from the lows and median line using Nov high reversal
Notice the convergence of lines at 2695 on Tuesday from:
1) The upper line of the current ...
look I'm not saying this is going to happen. but I do think people should keep in mind that it is possible this looks to me like a parabolic trend and parabolic trends cant go on for ever so just keep an open mind about this .
Harmonic patterns are excellent tools to use in corrective markets like we have right now. Fast whipsaws, quick moves up and down, lots of "head fakes". How can we have any idea on how to trade these markets?
Looking at the pattern from Feb 2018 we can see a "baby shark" pattern. If you would be so kind as to look at the expansion to the right as shown, in our ...