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With so little net process last week, I thought that I would share with everyone what my opinion of the current market position for the week ending 10/1/2010. Momentum: Overbought. A weekly momentum high is likely within the next bar or two followed by a decline lasting several weeks. Daily...

That's correct but after some nearby upper price objectives are met, look out below. If you place Bollenger Bands on the weekly chart at 22 bars, 22 period sma and a SD of 2.22 you'll see that volatility is starting to contract. That's the set up for the next big move. More importantly, the 22...

Back to back days of lackluster trade on low volume. Today was an inside day. These price bars are often the precursor for range expansions. With GDP, Jobless claims, Chicago PMI and Helicopter Ben speaking early in the morning, we should expect a volatile trading session. There is no material...

A very boring day from my view point whereas the market spent much of the day within the resistance zone near the top end of my projected targets of 1134 + 1%. As I mentioned in an earlier post, the only upside target that may still be in the works is where wave c = wave a at 1158 and closes the...

That was my what I was thinking when I made the prior comment.

Joe - not sure what you mean. I was refering to Dr. Chen's exit. You might want to check out my take on your comment that I posted earlier on my tread ( taken nothing away from Dr. Chen's post or the quality thereof). It's just to lengthy and inappropriate to post in his area. Best of Trading

So how does this analysis fit into our e-mini trading? Simply put, I expect higher prices. Looking at the daily chart level, several target areas are evident such as: 1. 1150.75 2. The open gap at 1156.75 3. The previous 4th wave and reverse fib extension at 1172.5 4. Wave (c) =wave...

The current rise in equities and commodities exhibit the concept of "all in one" whereas it seems that everything is pegged to the US Dollar trade. With the FED's announcement this week, it is clear that Keynesian economics is still very much alive. Hopes for a full recovery and the re-inflation...

Most retail investors get in to late , realize they're wrong and get out right before the turn. Watching 1158 ES_F myself

The upper targets have been achieved from my previous forecast of 1134+/- 1%. In doing so, several points of interest are: internals are weak; the NYSE ADV/DEC is diverging as price rallies; ROC and other short momentum indicators are beginning to rolled over. Sentiment indicators and the...

Correction wave 2 (blue) was 1126.75

So much for a quiet day before the FOMC announcement. Let's get right into it. The following chart shows where we are in terms of the current wave count. If you have been following along you know that I was calling for a breakout and a price target of 1134 +/- 1%. We have also reached the point...

Not much has transpired in the way of price appreciation since Monday. Both Monday and Tuesday were either doji or spinning tops depending on your interpretation. Regardless, they show indecision and declining momentum. What we don't know is whether they are just part of a continuation signature...

Correction: Daily cycle target was +/- 1.0% instead of 10%

Good Evening. As a reminder I am only posting to the blog on a M-W-F basis but you can get my intraday thought by following me on twitter. The URL is www.twitter.com/elliottwavelive From my week in review that I previously posted, I was anticipating an ending diagonal to form today. With...

Here's the second part. The second fractal is the ending diagonal pattern. From the 120 minute chart, notice the larger diagonal that terminated at wave 2. Now compare it to it's brethren depicted in the right hand box. Should the market push up as expected to complete wave v of the...

The Market ended the week with a negligible gain. NYSE volume was putrid;765.6 million shares traded... the lowest of the year. I found two interesting chart patterns that I would like to share with you in a two part post. They are "fractal" in nature. Fractals are the structures Elliott...

The market concluded today's session with an attempt to close the gap from Friday. On a closing basis, the gap is still open. As I mentioned earlier today, I need to see trade below 1090.5 to conclude that several other wave interpretations can be taken off the table and to place any bearish...

Looking for confirmation that a tradeable top is in place. Trade closing Friday's gap (1090.5) in an impulsive manner would be what I need to see to act. Best of Trading

Jobs report just came out and the futures are flying higher. Does anyone think that the market manipulators get the reports before us? Of course they do. At the time of this post, the market seems to be challenging the gap established on 8/11/2010. I don't know if the market has the muscle...