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
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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
Like the Dow and the Nasdaq, the SP500 printed a big Upthrust bar due to the news from the UK. And like the other two, this big Upthrust didn’t take out first the top of the last major range, so to deduce here that this is a major change of behavior that should start a whole bearish market Read More
The SP500 market showed weakness throughout most of the passing week by staying in the lower side of the monthly range. Even after a clear sign of strength on Thursday, made by a bullish pinbar on the Daily lower Bollinger Band, a thrust up that was made on Friday most likely should have started a bullish Read More
Perhaps the “Dilemma” about the Semiannual bar that is about to close by the end of June mentioned in the last review, and the market being in a 10 points backwardation, have led the passing week to close much weaker. It happened after taking out both April and May Monthly Highs, again, a midterm bullish Read More
The month of June started with an important Monthly HH that took out also the High of April which is also the last Weekly swing High. For the longer term, this thrust is a bullish signal to get to the 2180 area, above the all time high of 2134. In the previous review we mentioned Read More
In the passing week, the Market has changed the picture by 180 degrees, and eventually the break down turned out to be a false break. What usually comes with it, is a major change of behavior. Instead of a sideways action, slowly crawling down trend, the reversal was fast and instantaneous (what makes it very hard Read More
After the shakeout in the first bearish setup (mentioned 2 weeks ago), that followed by signs of weakness, the most important Low before the high (at 2026) – throughout the whole up move since February this year, had been taken out. Unless we see this week contradicting signs of a false break down, and signs Read More
U.S Stocks opened higher Friday as investors remained confident of a possible interest rates hike next month. This comes a day after the S&P 500 plunged to its lowest in two months. The Dow Jones industrial average .DJI climbed 30.75 points, or 0.18%, to 17,466.15, while the S&P 500 .SPX rose 5.09 points, or 0.25%, to 2,045.13. The Nasdaq Read More