Monthly Archives: October 2012

S&P 500 Elliott Wave Technical Analysis – 31st October, 2012

Last analysis was divided with the first and second wave counts diverging in expectation for the next direction. Wednesday’s mostly sideways movement does not make the situation any clearer.

The wave counts are unchanged.

The first and second wave counts still have about an even probability at the monthly chart level. Members may review monthly charts here.

Continue reading S&P 500 Elliott Wave Technical Analysis – 31st October, 2012

NYSE Closed Monday and Tuesday

Dear Members,

NY Stock Exchange has been closed Monday, October 29th, 2012 and will remain closed Tuesday October 30th due to hurricane Sandy.

We hope all our members in the East Coast of the USA in the area affected by Sandy are safe.

Analysis will resume when NY opens and when there is something to analyse.

 

DJIA Elliott Wave Technical Analysis – 26th October, 2012

Last week’s analysis expected a little more downwards movement towards the short term target at 13,255 for the first daily wave count. We did see more downwards movement but it has reached 215 points below this short term target.

I still have the same two wave counts for you. They are now perfectly in line with the wave counts for the S&P 500.

These two wave counts are different at the monthly chart level, they differ at cycle degree. Members may review monthly charts here.

Continue reading DJIA Elliott Wave Technical Analysis – 26th October, 2012

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

Last analysis expected upwards movement from the S&P for Friday’s session, but did allow for downwards movement and a confidence point was provided. Price did not reach the confidence price point and no confidence could be had in a trend change. Price moved slightly lower in mostly sideways movement for the session.

The wave counts remain valid. The first and second wave counts still have about an even probability at the monthly chart level. Members may review monthly charts here.

I have an hourly chart today for the second wave count.

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

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

Yesterday’s analysis expected more downwards movement for Thursday’s session to a short term target at 1,403 to 1,399, favouring the upper edge of the target zone. Price has reached down to 1,405.14, 2.14 points short of the target.

The wave count remains the same.

The first and second daily wave counts are different at cycle degree. Members may review monthly charts here.

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

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

Last analysis expected a little more downwards movement for Wednesday’s session. Price has moved lower as expected towards the short term target.

The wave count remains the same.

The first and second daily wave counts are different at cycle degree. Members may review monthly charts here.

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

S&P 500 Elliott Wave Technical Analysis – 23rd October, 2012

Last analysis expected upwards movement. The invalidation point on the hourly chart was quickly breached, however, by strong downwards movement.

The wave count at the daily chart level remains the same and it remains valid. The hourly chart is adjusted.

Continue reading S&P 500 Elliott Wave Technical Analysis – 23rd October, 2012

S&P 500 Elliott Wave Technical Analysis – 22nd October, 2012

Last analysis expected more downwards movement to a short term target at 1,425 to 1,424. Price has reached just 1.94 points below the small target zone before turning upwards at the end of Monday’s session. This is exactly what was expected.

I have the same two daily wave counts which now diverge. They are also different at cycle degree on monthly charts. Members may review monthly charts here.

Continue reading S&P 500 Elliott Wave Technical Analysis – 22nd October, 2012

S&P 500 Elliott Wave Technical Analysis – 19th October, 2012

Last analysis expected downwards movement in a low degree third wave which is exactly what we saw for Friday’s session. The target has not been met, but this movement was not expected to be over at the end of the week. The target can now be calculated at two wave degrees and so has a higher probability.

I have still the same two daily wave counts which differ at cycle degree and the monthly chart level. Members may review monthly charts here.

Continue reading S&P 500 Elliott Wave Technical Analysis – 19th October, 2012

DJIA Elliott Wave Technical Analysis – 19th October, 2012

Last week’s hourly wave count expected upwards movement for the first part of the week to be followed by downwards movement, which is exactly what happened, although the short term target for upwards movement to end about 13,459 was comfortably exceeded.

This structure is unfolding as expected.

I have still two daily wave counts which differ at cycle degree. Members may review monthly charts here.

Continue reading DJIA Elliott Wave Technical Analysis – 19th October, 2012