Last update noted the market may be in position for a correction, and expected some downside follow-through beneath Wednesday’s low. We did see a little…
Yesterday’s update noted that the S&P 500 (SPX) was in a somewhat ambiguous position, and that remains the case today. The waveform has gotten a bit sloppy over the past few sessions — nevertheless, an added degree of caution is called…
I’m not able to present as many charts today as I would like to, because I primarily create my charts using Stockcharts.com, and their site crashed while I was working. It has remained non-functional for several hours. …
As I study the charts this weekend, I can’t shake the view that the wave structure looks close to wrapping up blue wave 3 and embarking on a decent fourth wave correction. And yet, there are two things bothering me.
The…
On January 30, I warned that the market was likely approaching a chop zone, and that’s been a pretty accurate description of the action since. It now appears that a sustained break of the levels noted below will lead the market out of the chop z…
It goes without saying that the market is a dynamic environment. In order to keep up, we have to recognize when outlooks are changing, and then actively change with the changes.
Along those lines, Minyanville’s founder, Todd Harrison, has put t…
Apparently, I’m never going to finish the article with the long-term charts. I keep thinking I’m close to being done, then three hours later, I’m still not happy with it. Tomorrow then, I swear.
The hourly chart is updated below.
The o…
Just a very quick update today — I was working on an article detailing the long-term counts, but my own trade management simply got in the way of finishing the article. So, here’s the hourly SPX chart, and tomorrow (Good Lord willing!) I will f…
The short-term wave counts have performed about as well as they can for the past five weeks. Thursday’s update noted that the market may be approaching an intermediate chop zone, but also expected that SPX was likely forming a very small fourth wave, …
Yesterday’s preferred wave count outlined a small fourth wave correction as the most likely outcome for the session, and the market performed very much in line with that expectation. Odds are reasonably good that there’s still a small degree fif…
