Will_Wong

Will_Wong

Looks like the a-b-c correction to wave iv (red) has been completed and wave v (red) is starting

Will_Wong

The EW count seems to indicate that wave iii (red) is completed and A-B-C correction to wave iv (red) has started. A is completed, and B has started. B cannot be higher than iii so it seems like the cap for now is $111.66 With the release of the huge block buster Avenger 2: Age of Ultron on May 1, 2015 and the earnings report due on May 5, 2015, it seems like...

Will_Wong

EW count working like a gem so far. ABC correction next to wave {iv} purple?

Will_Wong

Updated EW Count

Will_Wong

DIS did not make an all time high in 2007 like the DOW and the SPX but made up for it in the latter years. It looks like it is in the ending stage of wave {iii} which is calculated to end at $109.42 (current $108.43) This is calculated by tagging the height of wave (iii) onto wave (iv). Since the current price of $108.43 is so close to $109.42, wave (v) can go...

Will_Wong

Courtesy of Quag G of WWW.MajorMarketMovements.com, here is a new EW count for LGND.

Will_Wong

I am still cutting my teeth on EW count and would appreciate any comments. I have assigned the height of wave III to wave V. EW rules state that wave III cannot be the shortest. In this case wave I is the shortest. So wave V can be longer than III. In a blowoff situation, this might just happen.

Will_Wong

Thanks to JXMFinancial who posted a multiyear chart of LGND that shows a very well rounded cup with the handle already breaking up with a first target of $77 and a second target of $118. It appears that 5 waves have been completed from the bottom of the cup to the neckline. A minor 5 wave down and a double abc correction completed the handle. We are possibly...

Will_Wong

I am cutting my teeth in EW counting and would welcome any comments. With the USD in wave V of V, we can also expect the EUO to be in wave V of V as well.

Will_Wong

See Notes on Chart

Will_Wong

With the USD possibly in wave 5 of 5, YCS could also be in wave 5 of 5 with target of $111.

Will_Wong

With the SM in retreat, maybe for a few more days, FAZ has broken out of the descending wedge trend line. How far will it climb? There are a few potential resistance lines drawn. With the Apr 17 FAZ $13 calls, it does have the potential to get ITM real quick and potentially hit $15.

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As the saying goes, hind sight is 20/20. As the SM reached another all time high and with the majority of people here posting short signals, I thought it would be good for us to revisit what happened back in 2007 when the SPX made a double top and rolled over into what is now known as the Great Recession. Were there warning signs? I found a bunch which in the...

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I am not a perma bull. Matter of fact, I am only 40% in the SM and 60% cash. However, it is what it is and these are the patterns I am seeing. As I scan around, I noticed 90% of the charts on SPX are bearish. The trend is your friend, I was told back in March 2009 when analysts were screaming sell, sell, and sell. That was a painful lesson for me to be on the...

Will_Wong

Target $13.63. Could mean record highs for all the indices this year. I had recently published a chart for the DOW showing a Bull Flag with a target of 19,100. You can do the same for the SPX too.

Will_Wong

Target is $139++

Will_Wong

DOWI-Bull Flag Pattern. Broke on the upside. Ultimate Target 19,100++. Three higher channels to bust through!

Will_Wong

HnS pattern with neckline already formed. Target $2.82. RSI shows negative divergence. MACD with shorter average dipping below longer average-bearish. Alternatively, AUY had been selling off ahead of the earnings report. A surprisingly good report might be the catalyst for a rally.