My poor shoe that I’m expecting to drop (based on last week’s post here) is getting a little worn. But I’m still holding onto it! Yes, I’m one of those guys that likes to wander around the house in comfortable old clothes that sometimes have holes in them! This week, we got what looked like… Read more
Market Forecast Overview
Last week, I stated my preference for a regular flat as the second downside pattern in this large fourth wave. There was an alternative of another pattern, such as a zigzag down to a new low, but it was less probable. Although it took all week, we got a first wave down in 5 waves… Read more
The Spiked Top in the US Indices All major markets are continuing as one. We’re at a top but the process of changing trend doesn’t happen overnight. The spiked top is the example—tops like this usually don’t last. Trends don’t “change on a dime.” The waves down are corrective—they don’t look motive. Some reasons why… Read more
All The Same Market All major markets are continuing as one. It’s not a coincidence that you may have noticed downturns in just about everything this past week; it’s because everything is setting up for a final wave and final turn into a major bear market at the end of it. So the thing to… Read more
A Change of Trend It’s still early to call a top, based upon Elliott Wave methodology. However, here are some facts regarding Friday’s action: at 665 points, the DOW had the largest decline since Dec. 1, 2008 more than eight times as many stocks on the NYSE closed down than closed up every single one… Read more
Way Too Much Bull! To be successful in trading, one of your hats has to be a “Contrarian Hat.” When everyone else (the herd) is in a trade and positive it’s going to continue, it’s time for you to look for a trend change. When the movement of an asset (eg – the US Dollar)… Read more
Looking for the Trigger Look no further than the US Dollar. I’ve been maintaining for the last couple of years that once the US Dollar found its low (it’s in a large fourth wave—a corrective wave), that it would mark the top of the US market. As per my graphic above, it seems like this… Read more
Overview of Where We Are I’ve spent a lot of time thinking about all the assets I cover and how they’re all moving to a synchronized turn. Here are my thoughts. Last week, it looked like currency pairs were going to turn early. They seemed to be topping with everything else. In other words, it… Read more
This week, we should see the top of the 500 year bull rally. Sentiment is at 93% bulls, which is rivalling the top of the dotcom bubble. All the assets I cover are at major inflection points. The dollar is about to turn or has turned. Oil is about the top. Gold is headed down… Read more
