Monthly Archives: January 2013

DJIA Monthly Wave Counts – January 2013

In line with the S&P 500 analysis I am reverting the main wave count to the most common structure, a double flat.

The alternate wave count is the least common Elliott wave structure, an expanding triangle. The rarity of this structure must mean this alternate has a very low probability.

The second alternate wave count sees the DJIA in a new bull market to last at least a decade.

Continue reading DJIA Monthly Wave Counts – January 2013

 

S&P 500 Elliott Wave Technical Analysis – 30th January, 2013

Last analysis expected more upwards movement from the S&P 500 for Wednesday’s session. Price has moved lower but remains within the allowable limit, above the invalidation point on the hourly chart.

The wave count remains the same. I have an alternate hourly wave count for you today.

Continue reading S&P 500 Elliott Wave Technical Analysis – 30th January, 2013

S&P 500 Monthly Wave Counts – January, 2013

Updated monthly charts are below.

I have still the same three wave counts.

The first, most likely main wave count, sees the S&P 500 in the second structure of a super cycle degree double flat.

There are two alternate monthly wave counts. The first alternate has an extremely low probability because it sees the rarest of all Elliott wave structures, an expanding triangle, unfolding at super cycle degree.

The second alternate sees the start of a new decade long bull market but the many overlaps in the current upward trend and the lack of a clear third wave reduce the probability of this wave count.

Continue reading S&P 500 Monthly Wave Counts – January, 2013

 

S&P 500 Elliott Wave Technical Analysis – 29th January, 2013

Analysis of Monday’s session expected more upwards movement from the S&P 500 for Tuesday’s session, which is what we have seen. Price is moving closer to the target on the hourly chart.

The daily wave count and hourly wave counts remain mostly the same. The target has been widened to a 2 point target zone.

Continue reading S&P 500 Elliott Wave Technical Analysis – 29th January, 2013

S&P 500 Elliott Wave Technical Analysis – 28th January, 2013

Last analysis expected a little more upwards movement before a small sideways correction to a short term target at 1,509. Price has moved sideways and slightly lower without reaching the target.

The wave count remains the same at the daily chart level, and mostly the same at the hourly chart level. The target has been recalculated.

Continue reading S&P 500 Elliott Wave Technical Analysis – 28th January, 2013

S&P 500 Elliott Wave Technical Analysis – 25th January, 2013

The S&P 500 has moved higher again as expected from yesterday’s analysis.

I have the same daily wave count and only one hourly wave count for you today. We need to use the channel on the daily chart to confirm a trend change. Until we have confirmation of a trend change we should assume that the trend remains the same.

Continue reading S&P 500 Elliott Wave Technical Analysis – 25th January, 2013

DJIA Elliott Wave Technical Analysis – 25th January, 2013

Movement above 13,661.87 invalidated the main wave count and confirmed the alternate wave count. At that stage more upwards movement was expected.

This week I have just the one wave count at the daily and hourly chart levels. The wave count has not changed for the monthly chart level with the exception of the structure of primary wave B.

Continue reading DJIA Elliott Wave Technical Analysis – 25th January, 2013

S&P 500 Elliott Wave Technical Analysis – 24th January, 2013

The S&P 500 has moved higher again as expected from yesterday’s analysis almost reaching the target at 1,504.

I have the same daily wave count and two hourly wave counts for you today. We need to use confirmation / invalidation points to work with the two hourly wave counts, and the channel on the daily chart to confirm a trend change. Until we have confirmation of a trend change we should assume that the trend remains the same.

Continue reading S&P 500 Elliott Wave Technical Analysis – 24th January, 2013