Nov 30, 2010

SPX 500

I've got a reason to consider wave A minor  of a potential triangle completed.
 1 173 became strong support. Once broken the price will meet next support  at 1 154.

Nov 25, 2010

SP 500

     Hey Wavers, It's been difficult lately...., I know...Between the Flash Crash and believing in the real evidence-long term.
    I was lucky and happy to nail the 2007-2009 slide. It will be a good story for my grand children.
 I know ....we know was very  fast and profitable.
What is the essentials of the EWP?...1-2-3-4-5..... a-b-c? THEN 1-2-3-4-5.... and a-b-c again.
 Do you know that SP500 has retraced more than 50% since the top in 2007 till March 2009.
 ....Probably This is the old  Bull Market.

Nowadays ...

  It  will be very difficult  for the bears to continue the pullback, and reach 1172  again after todays ignition.  
  Breaking 1195 downside was a good  sign, that I was wrong about my latest count. Wave four Minor is the better suggestion for the current scenario. It hasn't retraced 38.2% but it can be valid as well.   I like the triangle idea, but it needs little more time to unfold.

Nov 11, 2010

SPX - Cash Index

        More than 2 months the bulls control the ball, slightly tired, but still in the game. Yesterday's pullback produced green bullish candlestick with not so high reliability. 
Probably 4 minor wave is forming now. Minor 4th wave is particular wave pattern, and needs it's time. We got only 3 days after toping 3th minor. That's why the correction doesn't look finished yet. I have to relabel in case the price bounce up for new high today or tomorrow.
Possible test level- 1195
Target- 1237

Good luck!

Nov 9, 2010

DAX - Elliott Wave Update

     In Friday DAX closed within the target (6754), that I offered in my post in the late July. 
Very interesting lines crossing has occurred when conecting few tops and bottoms, whose spot is going to be next few days. Usually around such  spots the price turns. 
    According to the current count (4)th and(5)th waves are still expected. Probably the (3)th wave is not finished yet. Don't reckon on sell off, becuse the lowest "alowed" price level acording to the scenario is 6550.   The long term trend is up, and  shorting the market on daily base is risky and no preferable. Lower time frames will be suitable for daytrading.
Good luck!

Nov 2, 2010

GOLD Elliott Wave Update

People will say that all greed in the world has bought gold, and continues buying it, like in "The gold rush".
 The gold rush during the 3th waves looks like madness spread among the people. No one cares about falling prices, and they are right, we are in the "gold (3)th rush". A friend of mine asked me about market correlation between spot gold and US Indexes. I really, really don't look for correlation between Gold and other markets and I really don't care about correlations, because my observations are that market correlation occurs from time to time, and it's no reliable to analyse and trade, using such a method. Everything is math.
The last months bouncing price wasn't surprise. Currently I don't trade precious metals, just like to analyse it long term, from time to time. 
 I can only say : buy any dip. Enjoy the chart.
Good luck!!!