Update: Thursday, mid morning, Sept 24 Here’s the expected path for the second wave in ES. The second wave will go up in 3 waves. It’s the same ABC configuration across the indices. Often, these will be waves of equal length. The A wave typically retraces once it reaches the previous 4th wave, in this case… Read more
Market Forecast Overview
The “fourth wave kiss” has to do with the face that fourth waves always retrace 38% of the path of the wave pattern so far, or to the previous fourth wave (of the third wave coming down). Let’s take a look ahead of the Fed meeting to see the market’s handiwork to date and gauge… Read more
Update Wednesday, Sept 16, AM We have a very bearish looking triangle formed on all the indices. In the futures, it’s an upward sloping channel, which is also very bearish. Take a look at the SP500 above. All the indices look very much the same. It’s an odd-looking monster, but still a triangle. You’ll see… Read more
The prolonged wait is almost over. Wave 5 seems to have begun quite suddenly, except for the Nasdaq, which I’ll explain in the final chart. Most of the indices have completed wave 4. Wave 4 in a motive sequence of 5 waves is always the most complex pattern. There are 11 different configurations to choose from. I… Read more
Update: 12:30PM EST, Sept 9, 2105 Above is the SP500 as at the time and date at the top of the post. The C wave has extended and we’re expecting a flat. There are 11 different patterns that a fourth wave can trace out (the main reason I stay away from trading this wave) and… Read more
Update: End of day Friday, Sept 4, 2015 So many updates, but this has been such a fluid day! Triangles have been on again, off again. Well, they,re on again! Above is the SP500 after finishing today’s wave D down and already starting the bounce into wave E (over the weekend). The path is very… Read more
Update Tuesday Morning, Sept 1, 2015: The futures came down overnight and have bounced in a wave 4, so expect to head lower for much of the remainder of the day. Update Monday night, Aug 31, 2015—The market continues to frustrate. We’ve been at the top of this countertrend wave for days now. Tonight, I’m… Read more
Update Friday Before the Market Opens: Based on what the futures did last night, we saw the top yesterday. We simply have to test the top this morning and then we’ll turn down into wave 5. Clarity has finally returned to the wave count. Over the past few sessions, it has been a difficult market to decipher… Read more
Quick Update (last night) My least favorite pattern is a fourth wave in the position we’re in now. That’s because there are so many different combinations. We’re also in an area of the wave pattern that finds two fourth waves side by side. You have a fourth wave (iv) of the third wave, which will… Read more
Monday Morning Update The futures dropped overnight in the US market, reflecting the carnage overseas. The futures look to have done a full wave down, though, so I think we’ll have our fourth wave bounce at this lower level. It is obviously not a good idea in this market to play bounces, certainly overnight. The… Read more
