I wanted to show you an interesting Elliott Wave fractal that set-up into the close of the trading day for April 7th on the 1-minute chart – mainly to show the fractal nature of the Elliott Wave Principle. (Click for larger image) I’m also still keeping the TICK on the chart from last night’s post…
I wanted to focus again on today’s intraday report on the simple TICK divergences that gave us powerful trading signals all through the choppy trading of April 7, 2009. Let’s see them up close. To me, a TICK Divergence is far more powerful than a standard oscillator divergence, due to the fact that we are…
A couple of readers have asked me to take a look at Copper prices, which have been tracing out a similar pattern to Crude Oil. Let’s take a quick look at the Weekly and Daily charts of Copper, which includes as massive Rounded Reversal and recent Cradle Trade. Copper Weekly: Just like many other commodities,…
Adam Hewison released an instructional and current video of the S&P 500 15-minute chart where he highlights a possible Double Top and then explains how to find the “Pivot Point” and calculate a Price Projection target off those levels (which almost came fully to pass this morning!). Entitled “Intraday S&P 500: Double Top and Pivot…
A reader brought to my attention the TICK divergences and new TICK high that gave a clearer picture that the Day’s structure was NOT going to be a Trend Day but that odds favored a Rounded Reversal well in advance of the Cradle Trade. Let’s zoom back inside Monday’s SPY 5-min and go under the…
What a day! We got an early morning gap and then the remaining structure for the day formed an ideal Rounded Reversal. Let’s see this intraday development on the SPY 5-min chart. Typically, if a morning begins with a gap of over 100 Dow points (or in this case, $1.00 on the SPY, the S&P…
Andrew Horowitz of the Disciplined Investor interviewed me for this week’s Podcast entitled “Elliott Wave Theory in Action.” In it, Andrew and I discuss the basics of Elliott Wave, how fundamental analysis ties into Wave Structure, the current market environment, the “3/10 Oscillator,” and many other topics as well. If you have not done so…
Last week, I mentioned that the US Dollar Index was “Pulling Back into the Cradle” to form a Cradle Sell Signal and price did inflect down off that level. Let’s take an update and see how that structure formed and what might be in store now. US Dollar Index Daily: The “Cradle Trade” forms when…
With the S&P 500 closing just shy of 850, will this level hold as resistance? A test of the 20 week EMA and negative volume divergence hint that it may. Keep in mind that the market has recently ‘blown through’ key resistance levels so who’s to say this one is any more important? But it…
I have selected this week’s Top Editor’s Picks from the NewsFlashr Business Blog section. Here are the selections: Timothy Sykes – writing from Aspen! – shares with us his thoughts on “How Often Should You be Thinking About the Stock Market?” Hint: Be sure to balance priorities – and relax. Dr. Brett Steenbarger shares a…