Technical Analysis vs. Fundamentals What would the work be like without pundits predicting the market? Answer: A lot saner for anyone trying to follow the market. Only technical analysis will give you an accurate picture of where the market is going. Most fundamental analysis is just hearsay. That’s especially true now with virtually all asset… Read more
Market Forecast Overview
The US Dollar: Key to the Market The US Dollar is the reserve currency and just about everything (inside and outside the stock market) is priced based upon its current value. Almost all asset classes have a relationship with the dollar. Gold and oil are priced in US dollars. The currency of virtually every country… Read more
Ending Diagonals Everywhere! For over four weeks, we’ve watched the rally in the SP500 trace out a corrective wave up from the low of 2553.60. We began with what was a textbook contracting triangle. Then two weeks ago, the Nasdaq indices suddenly rallied into an ending diagonal. On Monday of this week, the SP500 (and… Read more
Keeping a “Weather Eye” I’ve mentioned before that my favourite sport is sailing. I’d much prefer to be out on the ocean more than just about anywhere else on Earth. There are lessons I’ve learned about the power of nature and the preparation necessary for venturing out in the world that could be very helpful… Read more
The Uphill Battle Continues in SPX For three weeks, we’ve watched the D wave of the contracting triangle in ES and SPX try to top. We’re very close to turn and Monday might just be the day. Good riddance to this wave! With almost every up and down move in the past three weeks in… Read more
One of the first things President Trump did when in office was to require that for every new regulation brought into law, two more must be rescinded. The message here is that we’re grossly over-regulated. Think about it. When do you hear of a law being rescinded? Almost never. Yet, with every new administration, new… Read more
On Friday, the frustration with this market took me back to the music of the 60s … “Set me free why don’t cha babe Get out my life why don’t cha babe ‘Cause you don’t really love me You just keep me hangin’ on” That’s the chorus from “You Keep Me Hanging On,” a big… Read more
The 500 Year Bull Market If often talk about the 500 year bull market. From my extensive research in economic cycles, the more specific measure is 516 years (3 times the 172 market crash cycles). If the “orthodox top” of the market was in 2007 (which also coincides with a 172 market top (and the… Read more
Ralph Nelson Elliott’s Work Ralph Elliott’s ground-breaking book, Nature’s Law — The Secret of the Universe, was published on June 10, 1946. He died less than two years later, on January 15, 1948. He has been in ill health for over twenty years, an affliction that struck a couple of years before the 1929 stock… Read more
The Second to Last (Penultimate) Pattern Fourth wave triangle patterns are a warning that the larger trend is about to turn the opposite direction. This is an Elliott Wave rule: It happens every single time we get a triangle in a fourth wave position. Every time! That’s the pattern we’re in now, and it means… Read more
