Monthly Archives: September 2012

S&P 500 Elliott Wave Technical Analysis – 28th September, 2012

Last analysis expected to see a small upwards push before overall downwards movement in a low degree second wave correction. Price did not begin with upwards movement but did move lower during Friday’s session.

The wave counts are the same. Targets are the same and the overall expectation for direction next week is the same.

At the monthly chart level the wave counts differ at cycle and super cycle degree. You may review monthly charts here.

The first and second daily wave counts below have about an even probability. At this stage they do not diverge.

Continue reading S&P 500 Elliott Wave Technical Analysis – 28th September, 2012

DJIA Elliott Wave Technical Analysis – 28th September, 2012

Last week’s analysis expected overall upwards movement for the week, but price moved lower continuing a correction which was not over.

However, price remained above the invalidation point for the correction.

I have still the same first and second daily wave counts which have about an even probability. They differ at the monthly chart level. Monthly charts can be reviewed in the historic analysis category here.

Continue reading DJIA Elliott Wave Technical Analysis – 28th September, 2012

S&P 500 Elliott Wave Technical Analysis – 27th September, 2012

Yesterday’s main hourly wave count expected upwards movement for Thursday’s session which is what happened.

I have still the same charts as yesterday for you. The targets are the same. The main hourly wave count is not confirmed but it has a much better look and a higher probability today.

The first and second daily wave counts still have about an even probability. They differ at monthly chart level, and at cycle degree. Monthly charts may be viewed here.

Continue reading S&P 500 Elliott Wave Technical Analysis – 27th September, 2012

S&P 500 Elliott Wave Technical Analysis – 26th September, 2012

Last analysis allowed for downwards movement as this correction extended lower. Price has remained above the invalidation point.

I have another interpretation of recent movement on the daily chart for you today. This interpretation is equally as valid and would explain a little more downwards movement before the main trend resumes.

Continue reading S&P 500 Elliott Wave Technical Analysis – 26th September, 2012

S&P 500 Elliott Wave Technical Analysis – 25th September, 2012

Yesterday’s analysis had three hourly wave counts. Movement below 1,452.06 invalidated two of the wave counts.

The wave count which is correct expected downwards movement to find support at the lower edge of the parallel channel which is where downwards movement ended for the session.

At this stage I have two hourly wave counts. The point of differentiation, the confirmation / invalidation point, is close by. The main hourly wave count has a higher probability than the alternate.

Monthly charts can be seen here.

Continue reading S&P 500 Elliott Wave Technical Analysis – 25th September, 2012

S&P 500 Elliott Wave Technical Analysis – 24th September, 2012

Sideways movement during Monday’s session was one of two possibilities expected.

The wave counts both remain mostly unchanged and the targets remain the same.

Although the two wave counts differ at monthly and cycle degree at this stage they do not differ in their mid term expectation for direction.

Monthly charts can be seen here.

Continue reading S&P 500 Elliott Wave Technical Analysis – 24th September, 2012

DJIA Elliott Wave Technical Analysis – 21st September, 2012

In line with the S&P 500 I am going to use what was our alternate monthly chart as a wave count equivalent to the main.

For the Dow I have now two wave counts which have different targets and mid term expectations, and have about an even probability.

This week’s analysis necessarily covers monthly charts because the two wave counts differ at cycle degree.

Continue reading DJIA Elliott Wave Technical Analysis – 21st September, 2012

S&P 500 Elliott Wave Technical Analysis – 21st September, 2012

Analysis of price action for Thursday’s session expected the S&P 500 to move higher during Friday which is what happened at the beginning of Friday’s session. Price then ended close to the open; a mostly sideways day.

I have the same two wave counts which still have about an even probability. They differ at cycle degree and you can see the monthly charts here.

At this stage the two wave counts again diverge in their expectation of direction for Monday’s session.

Continue reading S&P 500 Elliott Wave Technical Analysis – 21st September, 2012

S&P 500 Elliott Wave Technical Analysis – 20th September, 2012

Last analysis expected the S&P 500 to move lower during Thursday’s session towards a short term target at 1,447. Price has moved lower as expected reaching 3.58 points short of the target and ending exactly on the lower edge of the parallel channel on the hourly chart.

I have the same two wave counts which still have about an even probability. They differ at cycle degree and you can see the monthly charts here.

At this stage the two wave counts diverge in their expectation of direction for tomorrow’s session.

Continue reading S&P 500 Elliott Wave Technical Analysis – 20th September, 2012