I’m going out on a limb here and saying that the intraday high for June 11th is in place, thanks to a Negative Momentum Divergence and Elliott Wave “5th Wave” Terminal Target. Let’s see these on the chart before today’s close.
I have been a follower of Mr. Connors’ work since I learned of his book Street Smarts written with Linda Raschke which has become a classic book that details similar insider strategies that were explained with numerous examples from his years of trading experience and research.
I mentioned earlier in my post “So This is What Resistance Looks Like” where I noted that 950 was becoming increasingly difficult for the bulls to clear – they still haven’t cleared that level. Let’s step inside the 30 min chart on the S&P 500 to see the recent price action and current structure.
Adam Hewison released another informative video today on the CRB – Commodity Index, this time focusing on multi-timeframe “Trade Triangles” and specifically why he prefers to use this particular basket of commodities as has favorite barometer of inflation. In the introduction to the video, Adam writes: “One of my favorite indicators for large cyclic trends…
For those who have been following Yahoo (YHOO) Stock, we’ve seen an acceleration in price that has taken the form of a “Rounded Arc” up. Let’s see it on the daily chart.
Are lower prices ahead for the US Dollar Index? Let’s look at a possible powerful sell-signal example as price has formed a classic retracement into resistance, formed a doji candle, and plunged lower off this signal.
Might a recent volume surge in UNG (Natural Gas ETF) hint that higher prices are yet to come? Let’s take a look at UNG’s long-term weekly structure and then step inside the ‘volume surge’ on the Daily Chart.
With the weakness in the US Dollar and strength in crude oil, the Canadian Dollar (and respective ETF “FXC”) have been rallying in a strong impulse up that may be setting up another low-risk opportunity into possible support. Let’s see it.
The following article excerpt is adapted (with permission) from a brand-new eBook on gold and silver published by Robert Prechter, founder and CEO of the technical analysis and research firm Elliott Wave International.
Potash (POT) recently completed a Price Projection Target move out of an ideal symmetrical triangle pattern that I wanted to show you as an example. Let’s see it on the daily chart.