SPY is breaching below a short-term daily downward trend at a significantly investor-interested zone.
The dark gold region represents a highly trafficked zone of interest during the greater part of the first of the year. After a rather short testing period around mid-May, the market drove higher before return to a short-term downtrend.
Now breaking below that...
The Russell 2000 ETF (IWM), comprised of the 2000 smallest companies in the greater Russell 3000, is a proxy for small-cap public companies.
Small-caps tend to experience amplified interest expense burden as federal policy rates are lifted (as they are expected to be lifted a whole 100bps through 2022). This is because small-caps have a third of their debt in...
Beginning in March 23, 2020, the SPDR S&P 500 ETF Trust (SPY) has seemingly followed a basic Elliot Wave Theory (EWT) trend.
Wave (1): 03/23/20 to 08/31/20
Beginning around $219 and ending near $360, this wave is the apparent first in a new trend following the pandemic-related selloff.
Wave (2): 08/31/20 to 09/21/2020
A short but valid corrective wave, ending...
Using a Schiff Pitchfork from the highs on Jan 8 and Feb 21, along with my take on the asset's movement within Elliot Wave Theory, I see Bitcoin finishing its first move on its corrective wave.
The B and C corrective waves are not time-period significant, but so far, these movements seem validated.
Looking forward, I would like to see a bounce off of the 38.2%...
