Today could be a key day toward gaining more confidence in one of the two main counts, because — as those of you who own digital watches already know — today is the first of May. The first of any month is frequently bullish,…
I hate “lazy” charting, and I think it’s important to constantly challenge one’s assumptions. During yesterday’s session, I began considering the possibility that my initial labeling of the smallish correction back on March 12 as a 4th wave&…
On Friday, the Dow Jones Industrial Average (INDU) came within 6 points of its 2011 high. If this high is broken, this would be an extremely significant event for the counts, since second waves cannot exceed the beginning of first …
Much as I’d like to give the bears something to be really excited about, yesterday’s action wasn’t terribly encouraging, and has left some questions about the decline from 1333-1300. Yesterday’s morning spike exceeded the 1320.06 high, and&n…
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…
There’s been no material change in the counts since yesterday’s update, however, I have narrowed down some possibilities for the current retracement rally.
(If you’re new to the discussion, or to Elliott Wave Theory, it would&nbs…
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 …