Commodities across the board have taken massive falls throughout 2008. Let’s take a look at a possible Elliott Wave Analysis for the monthly and daily $CRB Commodity Index to see if we can place these moves within a broader structure. CRB Index Monthly : This structure takes price from the 1999 lows as the start…
We’ve had a steady rally all last week in the major US Equity Indexes, but let’s focus on the technical position of the S&P 500 and view both the daily and weekly charts and note possible projections and confluences. S&P 500 Daily: Price is clearly in a daily downtrend with a distinct series of lower…
I hope everyone had an excellent Thanksgiving! Let’s end the week by checking out a few links courtesy NewsFlashr Business and Blog section to head us into perhaps an early weekend. The StockMasters asks is Google (GOOG) stuck at $250 a share? Bespoke Group shows research which declares this The Most Volatile Market Ever. They…
A reader brought to my attention to look at the Elliott Wave Count for the Euro Index, and there’s an interesting development you might find interesting, or want to share you interpretation of what the count might be, or what might be in store next for the Euro. First, let’s set the stage with a…
Tuesday was an extremely fluid or rhythmically flowing day in the US Equity Indexes. Let’s view this price action through the DIA including a gap-fade with two bear-flags (Dow Jones ETF) and see what trade set-ups and structure we observed during the trading day. DIA 5-min Chart: The morning began with a large-scale gap (though…
An interesting potential reversal is underway in the US Dollar Index, which could give a boost to commodity prices in the short term. Let’s look at this development, and also a potentially complete Elliott Wave Impulse graph of the Dollar Index. Dollar Index Daily: : The US Dollar Index has surged steadily from its April…
During the Financial Crisis of 2008, the Ultra-short (two times leveraged) Financial ETF – symbol SKF – has generated a grand profit for some traders. However, such grand profits are not without extreme risk, as we saw in the recent three-day 50% slide in the ETF. Let’s look at this development and add a little…
I wanted to thank a couple of readers who brought to my attention the Fibonacci retracement grid from 1975 to the 2007 highs in the Dow Jones Industrial Average which recently has interesting if not outright actionable information regarding the current structure and possible large-scale inflection point (support) we just tested. Let’s look at this…
Recently, gold prices broke out of a month-long consolidation phase which should send us on a countertrend rally to the upside. Let’s see this potential devleopment and where might some targets be set. Gold Daily Chart: Price formed a swing high near $980.00 in July before falling $300.00 per ounce to a swing intraday low…
The commodity collapse or demand destruction in prices has hurt commodities across the board, including companies that rely on them. I wanted to take a special look at former high-flyer US Steel (X) to show the boom and bust and underscore the volatility in commodity-based stocks. US Steel (X) Monthly: I added an Elliott Wave…