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&…
Tag Archive for Target Zone
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX and NYA Updates: No Holy Grail Just Yet
by Pretzel Logic • • 0 Comments
Yesterday went as well as a day can for numerous targets… and while it’s still a bit tricky for the bigger picture, the very short-term charts seem fairly straighforward. I’m going to lead with the short term chart, which ex…
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX Update: In a Surprise Move, the ECB Declares Bankruptcy
by Pretzel Logic • • 0 Comments
That got your attention! Too bad I’m making it up.
Yesterday, I gave my arguments in favor of the preferred count. Today, I was going to play devil’s advocate, and actually wrote an entire article along those line. That took two…
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX, Oil, Gold, Silver, US Dollar, NDX: Snapshots Across Markets
by Pretzel Logic • • 0 Comments
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…
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX and VIX Updates: VIX Likely to Be Forming a Bottom
by Pretzel Logic • • 0 Comments
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…
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX Update: Another Proprietary Indicator Suggests Caution
by Pretzel Logic • • 0 Comments
On Friday, the market rallied up into the lower end of the Wave 5 target zone, but the short term charts seem to suggest a bit more upside still to come for Tuesday. Theoretically, this should be the last wave of this rally before a meaningful co…
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX and BKX Updates: Finally, the Fifth Wave
by Pretzel Logic • • 0 Comments
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…
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX Update: Here We Go Again… Another First from this Rally
by Pretzel Logic • • 0 Comments
Yesterday was primarily a market “noise” day, as it traded within a range inside the key levels. It does appear from yesterday’s action that blue wave 5 is subdividing. If that’s indeed the case, there are two primary routes for&n…
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX Update: Why this Rally is One for the History Books
by Pretzel Logic • • 0 Comments
This is a historic rally, and it’s accomplished something the market hasn’t accomplished very often — but I’ll return to that later. Monday the market performed as anticipated by the preferred count shown on Thursday and Friday –…
Charts and Trading, Latest Business Headlines, Pretzel Logic E Wave Analysis and Market Commentary
SPX Update: Using Elliott Wave Theory to Choose Entries and Stop Losses
by Pretzel Logic • • 0 Comments
Yesterday the market formed a bearish reversal bar: it gapped higher at the open, but closed solidly in the red. These types of bars sometimes indicate buying exhaustion.
The market is now as overbought as I’ve seen it, and if this is still a be…
