Aug 24, 2010

SP 500 -Elliott Wave update

       Last few weeks/moths the Us indexes offered a lot of mixed signals and counts, which divided the EW blogosphere into three groups:  bullish, bearish and neutral (including me). I changed my count slightly about S&P, giving a little bullish tune in the whole scenario, at least for the next couple of days or weeks. According to the DIS (Daily Index Sentiment) the US indexes have momentum and volume driven models, that appear to be preparing to switch to Buy signals with proper positive action today or in tomorrow's session. My indicators in 4 hour chart show oversold conditions, giving a clue for rebound as well. But as I've said many times: trading overbought or oversold market only, without stronger confirmation is really looking for trouble. 
       The chart below  shows the count I prefer, and the important short term resistance (1099.86), which once broken will prove my count.
Today's candle lays exactly on a time line, which might mark a low today. The price currently is very close to the support/resistance zone,  which once broken, will confirm the bearish case.
P.S. According to moon calendar today occurs  the full moon cycle, which usually makes bulls crazy and fearless.
Good luck trading!

Aug 18, 2010

DJIA - Elliott Wave update

 The corrections usually are the most boring part of the trading.

I am calling that FIGANNELL update, because it's all in.

Aug 15, 2010

DJIA - Elliott Wave update

DJIA on CFD - daily is still in the bullish zone( above 45 degree)

And the new setup.

Aug 13, 2010

SUGAR- Elliott Wave Update- Friday the 13th

No surprises here. The entire corrective rally started in 5/7/2010 still continues. Since my last update the price action painted H&S pattern as I expected. 

Aug 12, 2010

SP 500 - "Y" wave might began

          Despite my expectations for higher levels the bigger pattern "W,X,Y" still remains valid, just one more stop hit, refreshing my face. So, I just have to kick myself back in the race. 
        This time I come up with a candlestick count, which perfectly fits the Fibonacci Sequence numbers as tops and bottoms, taking the top, made in 4/26/2010. I have included a charting tool as well, which helps me to determine support/resistance levels and potential target zones. That tool is made, based on Fibonacci and Gann calculations. Now I am testing it. If it works properly  I will continue to use it, combined with wave count.

Aug 4, 2010

CFD SP500 - One more bullish weekly signal

We have one more strong buy signal on weekly base, given by the MACD(circled in red) . I've noticed that the big shots open their thick wallets  in such cases as well.  
The price currently is licking the upper channel line, but it's still in.
The calculated short term target on daily base becomes more real in case we break the channel upward and close above it. Short break around 1138 could accumulate little more buying power.
 Strategy: Buy.
           Cover at 1150.
Stop at 1085 if something went wrong.
Good luck!

Aug 2, 2010

SP 500

I calculated new price target for SPX cash index. That 1149 target responds to 90 degree Gann angle. 1010,91 is taken as low point.  The calculation is based on my Square of Nine calculator. We need to overcome 1131.23 first, where the 45 degree is. I think it won't be a problem for the bulls.