Last update noted that the market was in a dangerous position and oversold, but that there were some indications that a fourth-wave relief rally was due. Bulls managed to find support where they needed to, and the charts have now solidified the …
Last update, I warned that the odds strongly favored lower prices, and the market has obliged. Most markets are now below major support levels and the decline has given little sign of abating. As I’ve warned for several updates, this is no…
Tuesday was an interesting day as the market gapped lower, reversed strongly higher, and then retraced most of the rally by the end of the day. The market remains balanced at a key support zone, and the market is very oversold, so while those co…
Liquidity is the main driver of equities prices, since excess liquidity usually finds its way into assets, while a paucity of liquidity usually necessitates their sale. The QE-Infinity liquidity will start hitting the market this week. The…
Thursday’s decline captured the target of 20 SPX points from the bearish sell trigger outlined on Wednesday (1403 to 1383). In fact, all bearish sell triggers I’ve outlined since the 1474 print high have now been captured. In this update, …
Wednesday’s strong sell-off created some potential technical problems for the bulls, particularly in the Dow Jones Industrials (INDU), where the decline overlapped the wave (1)/A high. I literally ran out of time while charting last night, and I…
Yesterday’s rally exceeded my target zone by 2 points, and has necessitated a slight shift in the wave degrees. The rally was probably a bit too large to be blue wave (4), and has thus indicated that it is most likely the higher degree&…
A quick reminder: if you haven’t met the requirements for registration at the new forum, your account will, unfortunately (or maybe fortunately, lol) not be approved. Please read this thread carefully when registering. …
Before I get into the update:
Please be aware that the real-time intraday and after-hours trading discussion section has moved.
We’re in the process of transitioning to a new board, and while it’s still a work in progress (I started …
Yesterday was another victory for bears, and the market is now in a price zone that crosses numerous long-term support levels. It’s also sufficiently oversold that it’s advisable to watch for a potential bounce.&nbs…