E-minis volume levels

Some simple stuff here but worth pointing out: Look at the volume bars I have in the middle of the chart. The last 2 green up days were lower volume than the 3 down days previous. Granted this is e-minis and not the cash index but its a good indicator since today’s quad witching day [...]

Elliott Wave Update ~ 19 June

Well, the market did a nice little 3 day retrace back to the previous 4th wave subwave at 928. That’s what was called for and it complied with it. The waves look obviously corrective since the 903 low and I cannot find a bullish alternative at this moment. So….Monday *should* be a decent down day. [...]

Elliott Wave Update ~ 18 June

A bunch of zigzags that are struggling to gain altitude. 38% retrace has yet to be hit on the SPX. I favor one more zigzag up to finish off a wedge move and a proper Fibonacci retrace of at least 38%-50%. The market cannot seem to attain a price retrace so I have the 1 [...]

Elliott Wave Update ~ 17 June

Taking 956 as a peak (time will tell if its P2 peak or not), I can count a pretty decent 5 wave move off the peak. You can see a clear channel that the SPX is still obeying. If the market cannot break out of this channel tomorrow, then the move down is still advancing [...]

(Updated) Elliott Wave Update ~ 16 June

Update 7:30 PM : As I say in my post and as Kenny suggests, this still may be a B wave low in my version of a double zig zag to p2 peak as I have been outlining and suggesting for several weeks. http://2.bp.blogspot.com/_TwUS3GyHKsQ/SjbaW48egYI/AAAAAAAAA4s/0TqM2woIHzQ/s1600-h/spx60.png But the market is going to have to start to recover [...]

Variations

I usually have 3-4 things going on in my head (wave patterns) at a moment’s notice on any potential wave structure. Sometimes I try and convey all that is up in my little noggin but that can confuse the non Elliott Wavers if I throw every little potential up there. What is showing so far [...]

E-minis Hourly MACD and Stochs

The hourly MACD and stochs on the e-mini hourly both are near the “floor” as I show in this recent snapshot taken a few minutes ago. This is all hours of course. Another wave move lower may likely result in these indicators developing positive divergence and often signals the bottom of a 5 wave move [...]

Elliott Wave Update ~ 15 June

The market has traced what appears to be wave 1, 2 and 3 down from 956 peak. Wave 4 should be in play and what is needed for the bears is another wave lower to complete the first 5 wave pattern of any significant decline lower. My 5 minute chart shows what this first 5 [...]

Friday’s Microsquiggles

UPDATE Monday 6:20 AM: Never mind this post. Its not a leading diagonal. Futures already made a new low. EDIT 6pm: added some info and corrected paragraph spacing I am using the e-minis for the microsquiggles because they give a bit more clarity perhaps on the situation. Kenny shows a nice double three possibility for [...]

Kenny 158, Daneric 133

This can not stand! I’m talking about Google followers of course. I met Kenny on the Yahoo SKF message board and he put out just awesome charts. He actually inspired me to charting a year ago and particularly Elliott Wave Theory. He started a superb website http://kennystechnicalanalysisblog.blogspot.com/ and has a daily market conversation of course [...]

Elliott Wave Update ~ 12 June

EDITED 730PM FRIDAY: I edited my commentary for clarification. Too many Cap’t Morgons on a Friday heh I told you it was an up day (LOL – 1 point!). Well actually the intraday waves is a mixed bag of zig zags and 1 impulse to the upside thrown in there along with a spikey end [...]

Elliott Wave Update ~ 11 June

That was a very nice wave structure up today. It was nicely complete and the subwaves even had impulse 5 wave structures. All in all the market is setup perfectly for a power wave [iii] to head through 950 and this time hold it and propel higher. A 28 point wave [i] is a very [...]

Elliott Wave Update – 10 June

EDIT: e-minis just got whacked. You know I’ll be honest, this is a very dangerous market – if ever a triangle was going to fail, it would be a P2 trying to push for a new top after a 3 month rally – it takes balls to play this market to the upside at this [...]

E-mini action

Breakout, fakeout or ending diagonal in Kenny’s scenario? E-minis may have hit [e] overnight. Not sure how the cash index will react on opening. I just hope it gets resolved one way or another and we get some clarity going into the rest of the week. Good luck trading. Read more….

Elliott Speaks

This is reproduced (in parts – I left out passages for my convenience) from The Elliott Wave Principle, Key to Market Behavior (Frost/Prechter), chapter 8 entitled “Elliott Speaks“. I am sure the authors would not mind. The following paragraphs were written in 1978: “Apparently it is one of nature’s laws that man at times will [...]

Elliott Wave Update ~ 9 June

Quote from EWP, pg 52 on triangles: “Many analysts are fooled into labeling a completed triangle way too early. Triangles take time and go sideways. Subwave C is typically a complex wave, though wave B or D can fulfill that role. Give triangles time to develop”. There is ample evidence that yet another zigzag occurred [...]

Gbp/Usd Wave II) at 1.6330, Gold Wave 5) near to $1000

Prices on the two hour cable chart are trading to the upside, and we have re-worked the wave count a into near-term bullish direction. It seem that the market is trading in a corrective wave II); we came out with a possible leading diagonal in wave I). Prices in wave… Read more….

Why a Double Zigzag P2?

http://3.bp.blogspot.com/_TwUS3GyHKsQ/Si1urtzdcLI/AAAAAAAAA0s/CIwrzObisS8/s1600-h/60.png I was reading Elliott Wave Principle on zigzags. Of course I have Primary Wave 2 charted as a double zigzag playing out to peak (999 target). Why am I so locked on this pattern when others are seeing other things to include Elliott Wave International? Well for one thing I always have my Elliott [...]

P2 Target – 999 SPX

EDIT: Took out the preachy part heh. The market always humbles. That I have learned the hard way many times. Not meant to be hyperbole (maybe a little), but its my actual target via what the short term and long term waves are tracing out. If this is a B wave Minor triangle as I [...]

Microsquiggles

The move from 951 to 926 was half accomplished in A/H’s. A pre-market high of 957 started moving down and by the time the market opened it was back to 951 area for the SPX cash index. Also then in A/H’s last night, the market traced a nice descending-type triangle that also didn’t show up [...]

« Previous Page — Next Page »