SPX finally broke the 2011 highs, which is a huge monkey off my back, since I’ve been insisting that it would ever since the Dow broke its 2011 highs back on Feb. 7. Now we’ll see if SPX has any interest in the double Fib zone…
Yesterday both the preferred count and alternate counts anticipated a rally, which the market provided. It ended up closing dead center in the target zone for the alternate count, which kept it from being eliminated. The pref…
Yesterday the market traded up a little farther into the target zone, and has now satisfied the minimum requirements for the fifth wave up we’ve been looking for since February 8. I literally spent six straight hours charting…
In honor of the fact that today is National George Stephanopoulos Day, I’m going to keep this update a bit on the short side. (Actually it’s because I spent a good part of yesterday dealing with personal health issues, and have only had abou…
There is very little to add to the overall picture after yesterday’s action. The market came within 16 cents of adding confidence to the bear count, but did not. The action yesterday now forces me to give a slight edge t…
In a perfect world, the completion to the Minor (2) rally would mark a new high which exceeds the October top. My preferred count of an ending diagonal suggests that perhaps the session today or tomorrow will finally complete that top.
Sinc…
The markets finally got some relief from the selling on Monday, bouncing from within the target zone of the extended fifth wave count. I am now favoring that wave interpretation going forward.
Most of th…
As predicted, Wednesday’s normally seasonally-bullish session turned into a big red candle. That in itself should tell us something about this market, as that marks only the second time in ten years that the Wednesday before Thanksgiving&nbs…
Sometimes you just spend too long staring at charts. Yesterday, on my blog, I warned of the possibility of a fifth wave failure in the NDX and SPX. After the close Tuesday, I took a much needed break and spent some time with my family,…
By now, most traders know that Apple had its tree shaken yesterday. It missed earnings and disappointed analysts, largely due to iPhone sales coming in much lower than expected. After hitting a new all-time closing high …
