Monthly Archives: November 2012

DJIA Elliott Wave Technical Analysis – 23rd November, 2012

Last week’s analysis of the Dow expected upwards movement for this week which is what has happened.

Although price remains below the invalidation point I have adjusted the wave count to remain in line with the S&P 500. The slightly different take on recent movement has a typical look and a good probability.

This week I still have just the one daily wave count for you with only one hourly wave count at this stage.

Continue reading DJIA Elliott Wave Technical Analysis – 23rd November, 2012

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

Yesterday’s analysis expected sideways and downwards movement for Tuesday’s session which is what happened. The structure on the hourly chart is unfolding as expected.

I have still just the one daily chart for you. Today I have two hourly charts which look at Tuesday’s movement differently; the structure is the same but the degree of labeling differs.

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

DJIA Elliott Wave Technical Analysis – 16th November, 2012

The main hourly wave count from last week’s analysis expected the Dow to move higher in a correction for the week. That wave count had a confirmation point at 13,007.13. Price did not move above the confirmation point and instead moved lower for the week, and the alternate hourly wave count was correct.

This week I have just the one daily and one hourly wave count for you. This wave count is perfectly in line with my wave count for the S&P 500 and agrees with MACD as an indicator of momentum.

Continue reading DJIA Elliott Wave Technical Analysis – 16th November, 2012