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The End is Nigh

Update Friday, May 13, Noon EST

SPXMay13rev3

Updated at 3:30 PM EST:  Above is the 30 minute chart of the SP500. The triangle appears complete now in the SP500, but not in ES. In the SP500, the direction now is up to a new high—the target still 2116. It may take us a while to get there. The wave up should be in 3 waves.

ES 06-16 (60 Min)  5_13_2016 copy

Updated at 3:30 PM EST:  Above is the 60 minute chart of the SE (emini futures). The triangle for ES doesn’t match the triangle in SPX, in that the ES triangle has an additional “up-down” sequence to complete. As ES goes around the clock, the extra time it has should allow it to get “back in sync” with cash. However, now we have the full triangle defined and waves should trace out as per the arrows.

It will likely take a while to get to the top, and the target for now is the previous top at about 2105.

USDCADMay13

Above is the 2 hour chart of the USDCAD currency pair. This is a setup waiting to happen. After an ending diagonal, the pair has traced out an a and b wave. This is a 3 wave setup that will completely retrace to ~1.245. When it rallies to 1.315, it will be set to head down.

It’s a trade I will likely take but I don’t think we’ll see the setup until ES and SPX are at the bottom of the E wave.

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Update Tuesday, May 10, After the Close 

ES 06-16 (60 Min) 5_10_2016

Above is a 60 minute chart of ES (SPX emini futures). Click to expand. This is a close up look at the entire 4th wave triangle so far. We have another leg up to a target for D of ~2095, before a turn down into the E wave.

I’ve placed horizontal lines at the A and B apexes, to show the symmetry of the triangle, which is important. This should give us a fairly accurate target on the downside for wave E (the “E” should be on the up-sloping trendline, not on the horizontal line).

I’m happy we’re in a triangle, as triangles denote the end of the trend. One final wave up (the fifth wave up from E) will end the wave up from February 11.

The blue circle on the left marks an area that gave us a clue as to the triangle early on. The waves in the triangle were in 3’s, meaning the entire pattern to come could not be a simple ending motive wave in 5 waves. All waves of a motive wave have to be in 5’s (waves 1, 3, and 5) or the wave would need to be a triangle of some sort.

In order to erase the influence of the waves in the circle, the structure would have had to correct to the bottom of the fourth wave, which it did not do (although I thought yesterday it would and that led to a very subjective decision on my part that the ending diagonal was not complete). Every once in a while subjectivity creeps in, although I try very hard to keep it on the shelf.

SP500Mayrev

Above is a 30 minute chart of the SP500. The triangle is still alive! This is an updated chart showing the balance of the path to finish the triangle pattern. The target for this wave up, which would be the D wave, is ~2095. Wave C of the D wave would be 1.618 X the length of the A wave at that point.

The entire length of wave D will also be .618 X the entire length of wave B, which is a normal relationship in a symmetrical triangle.

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Original Post:  Saturday, May 7, 2016

“Trade what you see, not what you think.”

Elliott Waves are how the market moves. You can either refuse to believe and continue to guess or pick off little trades from time to time, or embark on a path to embrace and learn how to use them and spend less time analyzing and more time winning. It may take a while to achieve the latter, but eventually you’ll eventually see huge benefits to your profitability.

It always amazes me how I can be continually correct in my calls (in the 90 percentile) and yet there are many that just will not buy into the fact that the Principle works, or they’ll simply pay it no attention.

There’s a well known quote attributed to Albert Einstein (but he has professed that he never said it) that has been dubbed: “The Definition of Insanity.”

“Doing the same thing over and over again and expecting different results.”

It’s up to you open up to new ways of doing things. A tiny percentage of people in the market can build a nest egg from trading it. It takes lots of study and in-depth analysis of the tools out there. Whether you make the effort to learn everything you can about them is up to you, of course.

Last week, I focussed on the importance of waves in 3. They figure heavily in today’s report, of course, as the reason we’re going to down on Sunday and will finally finish off this fourth wave.

We have ending diagonals in all the indices and futures. We had a set of waves up on Friday in three waves.

I laid out my prediction on Friday (here it is again, if you missed it):

An ending diagonal drops to a throw-over wave (it should exceed the lower trendline). In this case, our target is 2023 for SPX. Ending diagonals are the final waves in a sequence. It will end in a dramatic reversal and the first wave up will go to the beginning of the ending diagonal pattern (in this case, about 2083).

The larger wave down from the top is overlapping and the waves are in 3’s. So this is a corrective wave down. The bottom line is that the medium term direction is still up. We’re looking for a bottom for this wave. I suspect the wave down will last through Sunday, which means we may bottom Monday morning.

A full fourth wave ending at SPX 2033 or a bit lower would suggest a fifth wave up in 5 waves will be the next move.

USDCAD and EURUSD are also in fourth waves now, consistent with that the equities are doing. USDCAD should now turn down and EURUSD up (once the 4th wave in US equities has bottomed).

All the Same Market. I’ve been mentioning for months now that the entire market is moving as one entity, the “all the same market” scenario, a phrase that Robert Prechter coined many years ago, when he projected the upcoming crash.

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Here’s a video overview of the market for Monday, May 9, 2016:

Market Report for May 9, 2016

setquality100px Make sure you zoom the video to full size with frame expander (arrows) in the bottom right hand corner and also set the quality to as high as your web connection allows. This is an HD quality video so the best viewing is at that level.

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The Charts Going into Monday

On Friday, the market showed its hand. This past week, the highest probability was that we were in a fourth wave triangle. Friday morning, we fell out of the triangle and it was clear that the market was finally going to tell us what it was doing. Cash and futures are now pointing in the same direction with an ending diagonal in progress.

ES 06-16 (60 Min) 5_6_2016

Above is the 60 minute chart of ES showing an ending diagonal (more info in the video). If so, we’ll see one more wave down. The wave up today is in three waves, so it should come down.

SP500REVISEDMay9

Above is a 30 minute chart of SPX. The waves up on Friday were in 3 waves (you can see the abc configuration in the video). Waves in 3 always retrace. So we need to get to a new low.

An ending diagonal drops to a throw-over wave (it should exceed the lower trendline). In this case, our target is 2023 for SPX. Ending diagonals are the final waves in a sequence. It will end in a dramatic reversal and the first wave up will go to the beginning of the ending diagonal pattern (in this case, about 2083).

Important money-making tool: In terms of the downside target, I’m using the same technique with the fibonacci retracement tool that I showed in the video. This is an extremely reliable tool you can use on all 2nd and 4th corrective waves. You can see that I’ve overlaid it on the chart to span the first wave down (100% level of the fib tool). The extension will almost always point to the end of the C wave (either at the 1.618 or 2.618 level). In this case, it’s pointing to the 2.618 level at 2023. That’s also arguably a 4th wave level (my numbering is a little suspect in terms of which corrective wave is the actual 4th).

The larger wave down from the top is overlapping. So this is a corrective wave down. The bottom line is that the direction is still up. We’re looking for a bottom for this wave. It looks like we’re going to finish this fourth wave. I suspect the wave down will last through Sunday, which means we may bottom Monday morning.

A full fourth wave ending at SPX 2023 or a bit lower would suggest a fifth wave up in 5 waves.

USDCAD and EURUSD are also in fourth waves now, consistent with that the equities are doing. USDCAD should now turn down and EURUSD up (once the 4th wave in US equities has bottomed).

NYSEMay2

Above is the daily chart of NYSE. I keep a fairly close eye on this index as it’s by far the largest in the world (in terms on capitalization). We are at the top of an ABC corrective wave (a bit more to go). I’m expecting a termination of this 2nd wave up at ~10648. This would “correct” the truncation and end in a double-pronged second wave. Third wave down should drop to around 6100.

IWMMay9

Above is a two hour chart of IWM (Russell 2000). This shows another perfectly valid way to label this wave up. It’s traced out a very obvious ending diagonal with the “throw-over” to complete. The first wave up has no second wave (as per the major indices), so as with the major indices, this is a corrective wave. The current B wave down should now turn up to create a double top. I expect to see 5 waves up from here.
SP500May9wide

Above is the 4 hour chart of the SP500, showing the double 2nd wave top waiting to finish tracing out. This would negate the “truncation” and create a spectacular EW textbook set up for a huge third wave down.

Second waves have few restrictions. The key rule is that they can not retrace to the previous top. They should retrace between 62 and 100% (but cannot hit the 100% retrace level). I expect us to reach 2116 before a turn down.

It’s typical in a bear market for second waves to trace out a double prong (an ABC wave down in this case and a 5 wave structure up). The five wave structure, however, is not motive (subwaves won’t necessarily all be in “legal” 5 wave motive configurations). I have therefore labelled this wave more correctly, showing that it is indeed a 3 wave corrective wave, with the C wave up expected to produce a final ending wave of 5 waves.

DOWMay9

Above is the 4 hour chart of the DOW. It’s similar to all the other indices, as it should be. I predicted we’d reach the previous 2nd wave high and that in fact is what we’ve done. Look for a double top with the most recent high before a turn down. The reason I show this index is that I’m always looking to other indexes for confirmation of a move. You’ll note that the DOW did not come down to a new low in February, so this puts it clearly in a corrective abc wave up. As all the indices move in tandem, this supports the fact that SPX is also in a corrective wave.

USDCADMay9

Above is the 4 hour chart of USDCAD. I have been stalking this for some time, waiting for it to bottom and we have the first signs  now.

The larger pattern is an ABC corrective wave, and we have an ending diagonal, which looks to be complete. However, I expect this wave up in 3 waves to trace out a double bottom (to ~1.246) before turning back up into a very large 5th wave.

The euro, Australian dollar, dollar, and Canadian dollar are all at similar major inflection points.

EURUSDMay9

Here’s the daily chart of EURUSD showing the major corrective pattern from the low of March, 2104. The triangle configuration hinted at with the converging trendlines is no longer, so I predict we’re going to hit the 38% retrace level, that I’ve been suggesting for the past 8 months or so is my preferred turning point.

It should turn in tandem with the US equities.

DXYMay9

The US dollar (this is a 3 day chart) should do the same thing but in the opposite direction (up). I’m up in the air right now about the structure of this entire wave. Although in 5 waves, it looks more corrective to me than motive.

Short term, however, we’re heading down to the 38% retrace level (which would be the expected place to end this correction).

GDOWMay9

Above is the 4 hour chart of GDOW (Global DOW) showing the current count. The short story here is that we’ve done a complete set of 5 waves down. As a result, the new trend is officially confirmed at DOWN. The second wave we’re in now has retraced exactly 62%.

Bottom line: All the indices are lining up for a HUGE third wave down. More confirmation!

Major international indices like the GDOW and NYSE are where I do for the overall count. I can be much more committed (as I was on the SP500 first wave down, while everyone was questioning it) when I see a count on these two indices which is clear.

XGLDMay2

Above is the daily chart of XGLD (gold). No real change here in the past week. The bottom line is that we should turn down here. If we go much above the previous fourth (horizontal line) then I’m obviously wrong and something else is going on.

The target on the low side is the 62% retracement level, somewhere close to 1142.

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First Wave Down – What to Watch For

This weekend we’re dangerously close to a top of a second wave (in the fifth of the fifth, with an ending diagonal pattern).

What we’re looking for to confirm a turn is a motive wave down in 5 waves.

Because we have an ending diagonal, the first wave will likely drop to the previous fourth, which is also the beginning of the ending diagonal pattern (~2022). After that, we should get a second wave that will retrace in 3 waves about 62%. That’s the preferred EW entry point. So don’t feel you have to rush in. There’ll be a much better opportunity at the second wave level than at the top and the risk is substantially reduced.

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History: The 1929 crash

1929crash

I think it’s important to look at 1929 and the wave structure (above and below), which was the same as 2007—to a point. I will show the 2007 crash below in the “What If” section.

The wave structure of the 1929 crash was in 3 waves overall. There were 5 waves down from the top (the A wave) and then a very large B wave retrace. The final C wave down was a stair-step affair and lasted over 2 years.

stock_market_crash_1930_1d

Let’s look  a little close at the timing of the 1929 crash because the similarities to today are uncanny.

The market peaked on September 3, 1929 and then it took 2 months for the crash to actually happen (to reach the bottom of wave 5 of the A wave). The larger crash  which we always hear about began on October 23, 1929. Then there was that large B wave, which lasted 5 and a half months and finally (which I explain a little further in the cycles section below), the C wave which went on for more than 2 years. This might be the scenario we’re looking at going forward.

 

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{ 177 comments… add one }
  • Andre May 12, 2016, 1:47 pm
  • Aaron May 12, 2016, 1:53 pm

    Peter, is there a common fibo relationship between 1st and 3rd waves?

    • Peter Temple May 12, 2016, 2:07 pm

      Yes, a third wave is 1.618 X the first.

    • Peter Temple May 12, 2016, 2:10 pm

      The third can extend, but it has to be at least that length. You can see that in ES and SPX.

    • Peter Temple May 12, 2016, 2:17 pm

      However, we’re in a countertrend move, and so you’re not going to always get that accuracy. And I’ll add that it’s even worse in this triangle, which has virtually no rules and is at the top a market that is getting ready to roll over, so you’re likely to have little surprises to the downside, like yesterday (and this fourth wave in NQ now, which has dropped to 50% rather than 38%).

  • rose May 12, 2016, 3:26 pm

    Peter, Janet Yellen saying, negative interest rates, will it affect the 3rd wae

    • Peter Temple May 12, 2016, 3:35 pm

      Rose, events don’t influence Elliott waves to any great extent (maybe for a day). It’s actually the other way around. If Yellen is going to introduce them, she’ll do it as the market hits the top. Then she’ll get blamed for it, even though we know the third wave is coming, anyway.

      NIRP is about the dumbest idea I’ve ever heard, but I thought she’d discounted that idea …

  • rose May 12, 2016, 3:47 pm

    thanks Peter, for all the help. It almost looks they want to float the market up, to distribute, when goes up-light volume, goes down- heavy volume

  • Peter Temple May 13, 2016, 4:01 am

    I had a chance to spend some time looking at the pattern on all the indices and, as a result, have re-defined the triangle based on today’s action. We should open this morning on the lower trendline in the cash indices.

    It also means Andy Pancholi did indeed nail another turn, but it’s a small turn, now being the top of the D leg of the triangle.

    • t james May 13, 2016, 5:23 am

      peter

      when do you sleep?

      • t james May 13, 2016, 5:26 am

        and-we could shoot as low as 2021 in cash index and blow up the big nasty triangle, correct?

        • t james May 13, 2016, 5:27 am

          “not blow up”

  • rich May 13, 2016, 6:01 am

    hmmmm – morning all, so i am seeing a 70ish point head and shoulder on the spx with the neckline at 2039 ish. the left/head/right shoulder have been set….so the potential is for this pattern to play out. H&S pattern is usually a topping pattern. so the bearish play is that the neckline breaks and we head down – with the top in place , or it fails to break down, upon which the triangle is the logical outcome to retest the top….

  • Dimitri May 13, 2016, 6:26 am

    Hi Peter,
    there is a nice “Shoulder-Head-Shoulder” at your SPX chart

    • Dimitri May 13, 2016, 6:28 am

      Rich, haven’t seen your comment.
      So, I’m not alone to see it

      • rich May 13, 2016, 6:49 am

        dimitri ,

        i have copy rights over that particular H&S pattern i will have to SUE you for copy right infringement. Judge judy will have an embolism with this case!!
        :-)) glad we both see it. many eyes looking at the same chart is a good thing.

        • John May 13, 2016, 7:13 am

          Hello I still have my first flash crash rights…

    • Peter Temple May 13, 2016, 7:24 am

      Not an EW pattern and this is tiny, so good luck with that.

      • Peter Temple May 13, 2016, 8:32 am

        Comments like this really make me wonder why I do this.

      • Dimitri May 13, 2016, 8:52 am

        Peter,
        this comment was just for fun ?

  • rose May 13, 2016, 7:23 am

    but other people are seeing small H &s 2040, 2080 with target 2120 what peter is seeing

  • Peter Temple May 13, 2016, 7:44 am

    If we don’t come down the define the lower trendline of the triangle, then we don’t have a triangle and we’ll end up going right up to the top, although I have a really hard time with the waves in SPX being motive and making much sense.

    Or SPX could touch the upper trendline before coming back down to the bottom. There are a lot of options right now.

  • rose May 13, 2016, 8:08 am

    Peter, it looks like you just want to see is little higher high to see wave 2 finished. But is it possible, it goes to 1850 then come backs up again. 2008, it did couple of times then finally crashed

  • rich May 13, 2016, 8:25 am

    hmmm…so in looking back – since march of 2015 the 2060 to 2065 zone in the spx has been a critical zone of support/resistance. it has continued to be a “back and forth” zone today…

  • Peter Temple May 13, 2016, 10:20 am

    I have updated the SPX chart at the top of the post to show the possibility of a smaller triangle. I have no idea what will play out but I think we’ll have the answer by Monday.

  • rich May 13, 2016, 10:22 am

    so upward “biased” OPEX week is next week – hmmm….. which ‘potentially’ favors one option – can anyone say [cough] triangle [cough]…….

  • LizH May 13, 2016, 10:55 am

    ES 1 hr. chart doesn’t look good for the day so far. Topping tails with a lower high on the 11 am bar. Both are followed by red bars. Bollinger bands squeezing. Looks like it’s prepping to go down.

    • Dave May 13, 2016, 11:14 am

      I beg to differ with you Liz. I believe by the end of the day we will have a small pop up in the markets where I will let go of one or two batches of longs from the lows of yesterday. Best of \luck

      • LizH May 13, 2016, 11:58 am

        😉

  • Peter Temple May 13, 2016, 11:53 am

    It’s clear that the smaller blue triangle option is off the table.

    • purvez May 13, 2016, 12:21 pm

      Not sure why you say that. Please look at my post below.

  • purvez May 13, 2016, 12:19 pm

    Peter, your ‘smaller-blue’ / ‘bigger-yellow’ triangle scenario has introduced a new count for me:

    Background:
    Triangles usually take a lot longer to complete than we give them time. I read that somewhere by Prechter.

    The ‘C’ wave of a triangle is usually the most complex and can itself take the form of a triangle. I think that’s by Prechter as well.

    Therefore :

    Your yellow count is the operative bigger triangle with the blue count being the triangle for the ‘C’ wave of the bigger triangle.

    That would then still allow for another ‘up’ wave from wherever the blue triangle ends (i.e. C of the bigger triangle) for D and a down to E.

    The only thing is that the E wave cannot go below the bottom of the smaller blue triangle end i.e. the bigger yellow C wave.

    I hope the above makes sense. Essentially I’m saying your ‘yellow’ count is the correct triangle before the 5th wave up but within the yellow triangle we have a ‘C’ wave ‘blue triangle’.

    Would appreciate your thoughts on this.

    Thanks

    • purvez May 13, 2016, 12:30 pm

      OK forget I said anything. The DJIA has busted below the blue ‘A’ wave.

      • rich May 13, 2016, 12:38 pm

        p,

        when you say “busted” – you mean full on “prom dress” clasp malfunction “busted”, or just “halt – put your hands up, and your gun down” busted?

        • purvez May 13, 2016, 2:33 pm

          The ‘prom dress’ one rich. 🙂 🙂 !!

    • Peter Temple May 13, 2016, 12:44 pm

      In SPX, the C wave of the larger triangle was complete on Friday, May 5, so the blue triangle doesn’t have anything to do with that wave. I was only presenting the blue triangle as an option that is no longer. The yellow count is correct, yes, and was the preferred count.

      The C wave being the most complex is correct. Elliott said that and it’s in Prechter’s book. However, a C wave wouldn’t form its own triangle. It can have a triangle as part of the wave, and in fact this one does: an ending diagonal.

      A triangle can have a smaller triangle within it, but it’s usually near the end (as part or all of the E wave) and can truncate the E wave so that it doesn’t touch a trendline, in my experience. It’s unusual.

      This move down should finally define the lower converging trendline in ES.

      • purvez May 13, 2016, 2:39 pm

        Peter, you usually cross check wave patterns within indices. On that basis there is a problem with your revised wave count above, because the DJIA has dropped below your wave C (yellow) equivalent. However for the SP500 it stays perfectly valid as you’ve shown.

        Would appreciate your thoughts.

        • Peter Temple May 13, 2016, 3:09 pm

          Purvez,
          Thanks for this. I don’t usually look around at that depth until the evening or weekend. Off the top of my head, looking at the DOW chart, the waves up from the A apex were motive (not like the problem I was having with ES), so if the DOW comes down a bit further to about 17484 or so, we may have a regular old fifth wave ahead of us, which will match up with what’s happening elsewhere. The indices don’t all need to be in triangles (obviously) but have to be more or less in sync and the count has to be “legal” which seems to be the case (but the DOW does need to meet that previous low). I’ll check out all the other indices on the weekend, but I don’t have any big concern seeing this.

          • Peter Temple May 13, 2016, 3:19 pm

            A quick look at NDX and the Nasdaq suggests we have a tiny bit more to come down, so I suspect we won’t go anywhere much over the weekend. I’d be expecting double bottoms there (certainly on the Nasdaq, not so much NDX).

          • purvez May 14, 2016, 3:17 am

            Peter, thanks very much for your detailed reply. Certainly the markets are keeping everyone guessing.

  • Peter Temple May 13, 2016, 1:27 pm

    I updated the SPX triangle showing it complete (at top of post).

    • Charlie May 13, 2016, 1:41 pm

      So looking at the new updated chart, maybe June or July before we hit the 2,116?

      • Peter Temple May 13, 2016, 1:45 pm

        Oh, I wouldn’t give it that long … 🙂
        I think “Sell in May, Go Away” may be a foreshadowing cliché.

        • t james May 13, 2016, 2:28 pm

          Peter,

          Could you discuss the “what if “game. What if we get a surprise to the downside, and break below 2039, and then break below 2021. Thanks,

          • Peter Temple May 13, 2016, 3:02 pm

            Then it’s a truncation, which I’ve never seen, and doubt actually exists.

  • t james May 13, 2016, 4:45 pm

    understood thanks

  • Joe May 13, 2016, 11:29 pm

    June 7th is my next cycle high for what’s it’s worth
    I haven’t paid close enough attention to the market
    To make any meaningful input at this time .
    The Mars Uranus cycle calls for a bottom on Jan 20 2017
    There another high in August I believe but I’m guessing
    It’s a Lower high . We probably have already made cycle
    Highs at the end of April . A choppy market into
    Either June 7 or into August can’t be ruled out just yet .
    The low due Jan 20th is the equal to a 2 year cycle low
    This implies new all time highs in late 2017 and possibly
    2018 ( Benner business cycle high ) after that we get
    Lots of ugly bearish cycles . 12 years 3 months to 12 years
    8 months from the oct 2007 high calls late 2019-early 2020
    A bottom of sorts ( also 2 years from March 2017)
    Years ending in 2 ( even some have doubts ) tend
    To be lows . So 2022 . 5 years from a high targets a low
    Example 2007 = 2012 as a cycle low and 2011 was the Benner
    Business cycle low .
    12 years 8 months from March 2000 high was nov 2012
    Hence 2022-even 2023 could be a bottom .
    I would not underestimate how bearish it can get
    Once the bear market begins .
    At this juncture though I view Jan 20 2017 as a cycle
    Low which may appear similar to late 1928 to early
    1929 . That implies new all time highs and quite possibly
    A huge blow off before the coming crash .
    Joe

    • Andre May 14, 2016, 10:32 am

      Joe,

      My analysis now says that we may set a low early 2020, then a retracement into april 2021(6 years after april/may 2015) and then down into july 2024.

      This would be a 9 year cycle down from 2015.

      So your 2023 is no too bad 😉

    • Dave May 14, 2016, 11:22 am

      Always good to hear from you Joe. All the best.

  • Dimitri May 14, 2016, 1:53 am

    Peter,
    could you explain why you begin the count of your triangle in SP500 from the end of March and in ES from the beginning of May.
    If you have started your count at the same time in both indexes you would have it globally the same in both.

  • Dave May 14, 2016, 11:18 am

    Nice call Liz, with the markets dripping down into the close.

  • Joe May 14, 2016, 12:57 pm

    I dug a little into my theoretical cycle model on the dow .
    To be honest it has its bad moments so i would not rely heavily
    on this but in general it has has good forecasting ability .
    If what it is showing is correct ( None of this is planet related )
    May 24- 25 would be the closing low followed by a bounce into a closing
    high on june 13 with a lower closing low ( below may 24-25 ) on June 27th
    July 21-27th another cycle high which should be close to price wise
    to the June 13th highs ( price ) and a low on Aug 23rd as well as Sept 8 2016
    From there it shows the market taking off to the upside .
    Planetary wise i have a few issues with this yet that is what it shows .
    16900 is now key closing support for the dow and 17700 is the key resistance
    17700-17730 to be more precise .
    The wave count it is forecasting ( again this is theoretical ) is that of a complex
    pattern A B C into June 27th Would be the initial decline phase . This implies
    we are only in wave A downward into may 24-25 , wave B would run from May 24-25
    into june 7-13 ( planetary and cycles blended )Wave C from june 13 to june 27th
    would be the end of that A B C phase , from there we get a triangular type pattern
    with june 27th – Aug 23rd – Sept 8th being a series of higher lows which would be the waves A C and E of that triangular pattern .
    The next Puetz cycle will be a key to this Sept 8 date .
    i do not have all the data in front of me at this time yet im thinking Sept 1 is the
    solar eclipse and generally the puetz cycle begins 1 month prior hence aug 1 plays into the starting point .The cycle low of Aug 23rd will become important
    There is many variables to this i have to dig into before going further with any
    bullish or bearish claims the dates though stand as turn points .
    The problems i see is technically the triangle formation is a corrective/ bearish
    sign ( down can be sideways or down ) .
    thats all i have for now .
    Good luck

  • Joe May 14, 2016, 1:05 pm

    Narrowing the ranges on the dow a little further
    i get 18126 as the estreme ( which is why i think the cycle high is in as of late april )
    17508 is a pivot level of sorts ( above bullish and below bearish ) the following
    lower range is 16890 ( the level i will be focusing on in late June )

  • Joe May 14, 2016, 1:10 pm

    Lastly
    July 1st is a turn in the generic mars Uranus cycle which
    runs into march 2 2017 . this is where things will get tricky
    i posted above the bullish side of things for the most part
    cyclical wise .
    planetary wise the trend begins to change july 1st

  • Joe May 14, 2016, 1:29 pm

    Final Post
    Apple:
    My son talked me into getting an iphone . Having used this phone
    for the past several months im going to get rid of it .
    The reason is it uses a ton of data compared to my old android phone
    in fact it it even uses data when im in the ocean 30 miles offshore with
    no phone reception.
    Wave A down on apple was the 134.54 to 92 price drop
    Wave B back up to 123.82
    Wave C will Equal Wave A in the 84.67-81.28 range ( percent and points being equal )
    below there id say below 60 bucks .
    Apple has failed to innovate and there phones are falling behind .
    the iwatch is cool but again it is not what it could have been .
    research Disney’s arm band technology and you will see the future in this technology
    as it will probably end up . the iwatch is just a gadget.
    the projected future grown of arm bands is huge but apple as not yet grasped it in its
    future format .
    Nuff said

  • Peter Temple May 15, 2016, 6:02 pm

I welcome questions or input about Elliott Wave, cycles analysis, or astrological input relating to any market. However, due to a heavy schedule, I may not have the time to answer comments.

I reserve the right to remove any comment that is deemed negative, disparages the Principle, is otherwise not helpful to blog members, or is off-topic.

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