by Lara | Dec 23, 2016 | S&P 500, S&P 500 + DJIA |
Another very small range day moved price essentially sideways fitting the Elliott wave count for the short term. Two hourly Elliott wave counts are provided to end the year, with the one daily Elliott wave count remaining the same. Summary: A small pennant pattern may...
by Lara | Dec 22, 2016 | S&P 500, S&P 500 + DJIA |
Another downwards day remains within the range of recent movement. The short term Elliott wave structure at the hourly chart level is relabelled, and the Elliott wave target remains the same. Summary: A small pennant pattern may be completing, the target would be...
by Lara | Dec 21, 2016 | S&P 500, S&P 500 + DJIA |
A downwards day remains within the small pattern forming. Summary: A small pennant pattern may be completing, the target would be about 2,359 (measured rule) or 2,473 (Elliott wave). However, ADX is still extreme in the short term at the daily chart level, and VIX is...
by Lara | Dec 20, 2016 | S&P 500, S&P 500 + DJIA |
Upwards movement was expected for the second hourly Elliott wave count. Summary: Another small pennant pattern may be over, the target would be about 2,350 (measured rule) or 2,473 (Elliott wave). However, indicators are sounding strong notes of caution here: ADX is...
by Lara | Dec 19, 2016 | S&P 500, S&P 500 + DJIA |
A small inside day continues a small consolidation, which was what both the daily and two hourly Elliott wave counts expected. The alternate hourly Elliott wave count will be discarded today. Summary: It is possible that the consolidation is over today. If yes, the...
by Lara | Dec 17, 2016 | S&P 500, S&P 500 + DJIA |
Friday was expected to begin with some upwards movement, which is how the session began, but price did not move as high as was expected. Overall, sideways movement was expected for a consolidation, which is what is happening. Summary: A consolidation has begun and is...
by Lara | Dec 15, 2016 | S&P 500, S&P 500 + DJIA |
A green daily candlestick has unfolded exactly as expected for Thursday’s session. Summary: A consolidation has begun and is likely to continue for a few more days with choppy overlapping sideways movement. Tomorrow may begin with some upwards movement to end...
by Lara | Dec 14, 2016 | S&P 500, S&P 500 + DJIA |
A breach of the channel on the hourly Elliott wave chart and a new low below 2,252.37 indicate a correction has begun. Summary: Although the alternate is labeled as such, it may have a higher probability than the main. A pullback has begun and is likely to continue...
by Lara | Dec 13, 2016 | S&P 500, S&P 500 + DJIA |
Upwards movement was expected for Tuesday’s session. Summary: There is an upwards trend in place, but it is becoming extreme. Use the narrow channel on the hourly chart; while price remains in the channel, the target for intermediate wave (3) to end is at 2,280...