It’s time to update the Elliott Wave count and see what might be happening in the S&P 500 and how we might manage risk accordingly. Possible Elliott Wave Interpretation on the S&P 500 Index: This count assumes that the larger Third Wave has indeed completed. Refer back to my December post that asked “Which Elliott…
Adam Hewison of the Market Club released a video that walks you through three specific trades taken by the ‘trade triangle technology’ which also explains how to use higher timeframes to filter signals from shorter timeframes to create a potentially more profitable trading campaign. Entitled simply “The Euro and the US Dollar,” Adam does more…
I thought that had a catchy name – ABC on TLT. What it means is that we’ve had a clean Elliott Retracement phase on the 20-year bond fund TLT after the sharp rise going into 2009. Let’s see these developments and what it might mean. TLT Daily Chart: The TLT Fund broke out of consolidation…
Friday gave us yet another “Trend Day Down” in the market – making two in a row – but there’s something quite interesting you need to review about Friday’s Trend Day action. DIA 5-min: Do you know what it is without looking? At 1:00pm, all short stops were triggered, knocking trend-day traders out of their…
I remember hearing all about how wonderful the Sirius/XM Satellite Radio merger was and how you should be buying stock and especially that you should buy because price was around $2.00 or $3.00 and if price moved just a little bit to $4.00 or $6.00 that you would double your money, not to mention if…
One of the main points I’ve highlighted on intraday Trend Days is that you should remove all indicators (especially oscillators) from your chart and only use Moving Averages to guide your trading. This will serve as the explanation for doing so. Let’s use January 29, 2009 as an example using the DIA 5-min chart: You…
Thursday’s price action gave us yet another excellent example of a trend day, which offers us the opportunity to trade any retracement aggressively. Let’s look at the structure and key high probability trade set-ups that formed. DIA 5-min: The day started just as Wednesday did with a large (greater than $1.00) overnight gap. For the…
Analyzing gold may seem difficult for traders, but let’s look at a related market – silver – to see if we can gather any insights from the Monthly or Weekly charts in this precious metal – hint: the picture looks a little clearer. Silver ($SILVER) Monthly: I’ve annotated this chart with a possible preferred Elliott…
SMB Remote Trading recently released a video detailing one day in the life of Conor Murphy in Manhattan as he heads to the office, develops a morning plan, executes the plan, reviews his trades at lunch, and then reviews his performance after the market close. The Video is entitled “A Day on the Street” (YouTube…
We expected a price movement out of the recent coil (consolidation) and we got it today in spades. The break was to the upside which surprised many bears, but let’s look inside the DIA’s 5-minute chart to gather where we might have entered some high probability trades and learn from the day’s structure. DIA 5-min…