by Lara | Aug 10, 2017 | S&P 500, S&P 500 + DJIA |
A new low below 2,462.17 in the first hour of the session added confidence to the Elliott wave count which expected a deeper pullback was in the early stages. The target for it to end and the expectation for how long it may last will remain the same for now. Summary:...
by Lara | Aug 9, 2017 | S&P 500, S&P 500 + DJIA |
Downwards movement was expected for Wednesday’s session. Summary: It now looks likely that primary wave 3 has ended and primary wave 4 may be beginning. Some confidence in this view may be had if price makes a new low below 2,462.17. Primary wave 4 may be...
by Lara | Aug 9, 2017 | EW Education, Public Analysis, S&P 500, Trading Tips
After a consolidation price will break out. The presence or absence of support from volume on the breakout tells us how reliable the breakout may be. Click chart to enlarge. Pennant patterns are one of the most reliable continuation patterns. But in an upwards trend...
by Lara | Aug 8, 2017 | S&P 500, S&P 500 + DJIA |
The diamond pattern was broken but the possible upwards breakout was quickly reversed. The second hourly Elliott wave count expected this but price fell 6.13 points short of the target. Summary: It now looks likely that primary wave 3 ended today and primary wave 4...
by Lara | Aug 7, 2017 | S&P 500, S&P 500 + DJIA |
A small diamond pattern may be forming. This supports the Elliott wave count. Summary: It looks likely now that primary wave 3 may be over and primary wave 4 may be in its very early stages. Some confidence in this view may be had if price makes a new low below...
by Lara | Aug 5, 2017 | S&P 500, S&P 500 + DJIA |
A small doji at the weekly chart level now puts the trend from up to neutral, at least for the short term. Summary: Assume the trend remains up while price remains above 2,459.93. The Elliott wave target is now at 2,497, and a classic technical analysis target is at...
by Lara | Aug 4, 2017 | EW Education, Public Analysis, S&P 500, Trading Tips
A simple classic technical analysis pattern may answer the question of what direction to expect tomorrow from the S&P500 upon release of Non Farm Payroll data. This release is expected to move markets strongly:. Click chart to enlarge. Pennants are reliable...
by Lara | Aug 3, 2017 | S&P 500, S&P 500 + DJIA |
Another small inside day now gives the current consolidation a more typical look. A pennant may be forming. Summary: Assume the trend remains up while price remains above 2,459.93. The Elliott wave target is now at 2,494, and a classic technical analysis target is at...
by Lara | Aug 2, 2017 | S&P 500, S&P 500 + DJIA |
Sideways movement completes an outside day and fits both Elliott wave counts. This market is again range bound. Summary: Assume the trend remains up while price remains above 2,459.93. The target is at 2,500 now. A new low now below 2,459.93 would add some confidence...
