Update Thursday, Nov 19 After the Bell We have kind of an interesting situation here. This is a chart of the SP500 (10 min) at the end fo the day. It shows the path to the top. I have labelled it based upon the most obvious wave count (there’s another way to label this). There… Read more
Market Forecast Overview
Update November 18 Before the Bell Not much has changed in my count. ES (emini futures) has broken a cardinal EW rule in that the fourth wave has wandered into the area of the first wave by about 1.5 points. Overnight EUR/USD reversed in a big way and USD/JPY has not (not sure if it’s… Read more
The Bigger Picture Bob Prechter and Pete Kendall wrote an article for Barron’s in 2004, in which they forecast the eventual alignment of all markets based upon liquidity. Here’s some more background on that. This is today’s theme. I’ve been watching the equities and currencies move closer and closer into alignment over the past year… Read more
Update: Approx 11:20 EST, November 13 The larger, previous fourth wave is at about 2017 SP500 so I suspect that’s where we’re headed. Or close by. _______________________ Update End of Day, November 12 What might be playing out is a leading diagonal, which would mean we’d next want to see a second wave which would retrace at… Read more
Update Saturday, Nov 7 A look at the SP500 on Saturday shows that we’re in a final fifth wave. I expect, when the market is good and ready, to see it head back up to the most recent high, test it and turn down. At the same time currencies are bottoming, so there are potentially great trades coming up there… Read more
Update before the bell, Nov 3, 2105 Overnight, the futures look to have completed wave 4 of this final wave so this opens up the opportunity to rise to a small new high to cap off this wave (wave 5 of 5 of 5). Cycle turn dates are today and tomorrow, Nov 3/4. It also could… Read more
Uupdate Friday morning, Oct 30 (before the bell) Futures acted much as I expected overnight. They completed what looks like a small 5th wave and then retreated and are sitting, waiting. The euro continued up and should get to the previous 4th at 1,1090 before turning down in a second wave. usdcad hardly budged but… Read more
… the Farther They’ll Fall Update, Tuesday, Oct 27: We seem to be waiting for the FOMC meeting and subsequent announcement (at noon on Wednesday). I suspect we’ll have similar action to the September 17 announcement. It should mark the top of this second wave. So far today, the SP500 has come down in 3 overlapping… Read more
The hunt for this elusive top continues! It might seem frustrating at times (I think so!) but the reward at the end will be worth the wait. I was not feeling comfortable with where we topped and, in fact, was surprised. We’d had a very shallow 4th wave and then a small top, which I… Read more
