Final New Highs Ahead I’m very busy preparing for the upcoming webinar this week, so my comments will be short. When I talk about new highs, I’m talking about highs for the current corrective rally. We’re struggling in the US indices. A new high will be the point at which you would want to look… Read more
Market Forecast Overview
Non-Confirmations Friday was a very strange day from an Elliott Wave perspective. We were supposedly in a second wave correction after a surging first wave up on Thursday that extended into the night in futures (Futures went up another 11 points overnight and then in the wee hours, collapsed into a second wave). When the… Read more
A Week of Fake-Outs! I warned last weekend about the craziness. It continues. This time, I’m referring to the market; never mind what’s happening outside in the unreal world … I’ve put in about 60 hours this week on the market and analysis — the most ever, I think. That’s an indicator of how incredibly… Read more
Down We Go Brace for more crazy. We should get a nice “ramp up” in the craziness as this market drops down again. The icing on the cake will be “through-the-roof” fear, with a side order of social upheaval. It’s difficult to know where to start. The next leg down in the market has begun… Read more
A New Mini-Cycle Emerges More and more, the real truth is starting to come out about this virus and the numbers are supporting my article of a few weeks ago, which Facebook initially flagged as “controversial content,” but when I asked for reconsideration, they relented and let me boost its reach (which they refused to… Read more
Mother Nature Always Wins The current rally (which now definitely coming to an end) can only be a by-product of the action of the Federal Reserve. I’ve never seen a corrective rally this large on such a large scale, as part of a bear market. Nonetheless, the market still moves to the beat of the… Read more
The Final Drop Begins This past week was a brutal one and highlights the weakest aspect of Elliott Wave — the ability to target the ends of corrective wave patterns. Impulsive waves are easy. All the waves in an impulsive wave pattern have strict fibonacci relationships to each other. They seldom vary much. However, corrective… Read more
The Blame Game At the top of the third wave, expecting a drop to under 2100 in SPX, I said that the fourth wave would be blamed on the coronavirus. And sure enough, it has been. Even though worldwide debt is larger than it has been ever before in history (250 trillion at last count… Read more
A Top Is Forming After a week of a correction to the upside in the US indices, as expected, this weekend, it looks like we’re forming a top. The next move should be to the downside. The waves up now look corrective, and because of that (and what’s going on with the Dollar Index), I’m… Read more
Fourth Wave Combinations Fourth waves at this high level of trend typically form combination waves. What this means is that more than one Elliott wave corrective pattern traces out before the larger correction is done. The secret to trading it is to figure out each of the patterns before they’re complete. It’s a difficult take… Read more
