Another narrow range week has was over, in which the market started by a Weekly false break up, ending with a Weekly false break down. So, we had a HH LL Week that closed near its High, a 3rd week to penetrate the upper Bollinger band, and composed of Daily bars that closed above the Read More
July 2016
A very narrow range week has passed, and the market made almost nothing but staying in a very small range trading sideways. We are now slightly above the 161.8% extension of the Whole bearish market of years 2007-2009 at 2156, While the previous all time high at 2134 and the whole big correction since May Read More
After more than a year, the all time High of 2134 has finally been taken out. The whole Yearly correction since 2015 can be considered as a corrective Elliott Wave 4, while now we might be “officially” at Elliot Wave 5 of the Bullish market since March 2009. As mentioned in the last review, except Read More
Two weeks after the Brexit pole, the market looks very strong, and currently is above the highest price prior to the pole. At this point it might looks like as if nothing could stop the market from taking out the all time high and skyrocket into the Monthly upper Bollinger band at 2180, at least. Read More
The strong close of the passing week brings us back to the indecisive sideways action. The bearish setup target mentioned in last review didn’t reach the 1960 level, and in turn made a remarkable reversal up above the 1980 level. This bearish formation to 1960 is still valid as long as the Monthly High at 2119.5 Read More