Monthly Archives: April 2014

S&P 500 Elliott Wave Technical Analysis – 30th April, 2014

Upwards movement invalidated the main wave count at the hourly chart level. I am discarding the main wave count in favour of the alternate.

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S&P 500 Elliott Wave Technical Analysis – 29th April, 2014

Yesterday’s analysis expected a little more upwards movement to complete a second wave correction, which is what happened.

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S&P 500 Elliott Wave Technical Analysis – 28th April, 2014

A new low for Monday was expected. Overall the wave count looks correct.

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S&P 500 Elliott Wave Technical Analysis – 25th April, 2014

Downwards movement was expected and breached the channel on the hourly chart. At this stage the main wave count has a better fit on the five minute chart, and so has a higher probability.

Continue reading S&P 500 Elliott Wave Technical Analysis – 25th April, 2014

AAPL Elliott Wave Technical Analysis – 25th April, 2014

Yesterday’s analysis of AAPL was invalidated by upwards movement. I have a new wave count for you.

Click on charts to enlarge.

AAPL daily 2014

Cycle wave b may be continuing as a double zigzag. The second structure in the double is incomplete. At 638.97 intermediate wave (C) would reach equality with intermediate wave (A).

Within intermediate wave (C) minor wave 4 may not move into minor wave 1 price territory below 532.14.

S&P 500 Elliott Wave Technical Analysis – 24th April, 2014

Price has moved lower to complete a red candlestick as expected, but remains firmly within the channel on the hourly chart. While price remains contained within the channel we do not have clarity. All the wave counts remain the same.

Continue reading S&P 500 Elliott Wave Technical Analysis – 24th April, 2014

AAPL Elliott Wave Technical Analysis – 24th April, 2014

Within the bigger picture this wave count sees AAPL in a super cycle zigzag correction which is just over two thirds completed.

Click on charts to enlarge.

AAPL daily 2014

Within the zigzag cycle wave b ended at 571.88 with a small truncation in the final fifth wave up.

At this stage I expect a big leading expanding diagonal is unfolding for a first wave at primary degree.

Within the leading diagonal intermediate wave (2) is a 72% correction of intermediate wave (1), and intermediate wave (4) is a 86% correction of intermediate wave (3).

I would expect intermediate wave (5) to be longer than intermediate wave (3) and to reach down to 484.54 or below. At 456 minor wave C within intermediate wave (5) would reach 2.618 the length of minor wave A.

Downwards movement is very slow and so the target may be yet another few weeks away.

Within intermediate wave (5) minor wave B may not move beyond the start of minor wave A. This wave count is invalidated with movement above 551.19.

At 252 cycle wave c would reach equality in length with cycle wave a. This target is about one year away.

AAPL hourly 2014

Within intermediate wave (5) so far minor waves A and B are most likely complete.

Within minor wave C minute wave i and now ii also are most likely complete.

At 480 minute wave iii would reach 1.618 the length of minute wave i.

The pink channel drawn about minute waves i and ii is a base channel. I would expect corrections along the way down to find resistance at the upper edge of the channel. Minute wave iii should breach the lower edge of the channel and should show an increase in downwards momentum.

Within minute wave iii no second wave correction may move beyond its start above 532.14.

S&P 500 Elliott Wave Technical Analysis – 23rd April, 2014

With price drifting sideways in a narrow range the wave counts all remain the same.

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S&P 500 Elliott Wave Technical Analysis – 21st April, 2014

I had expected price to move move slightly higher to reach a little above 1,872.53 before turning down. Price did move higher but has not yet moved above 1,872.53. All three wave counts remain the same.

Continue reading S&P 500 Elliott Wave Technical Analysis – 21st April, 2014