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 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…
I previously posted the “Three Hard and Fast Rules of Elliott Wave Theory” and now it’s time to see these simple rules in action on two stocks on different time frames. First, let’s review those rules: 1. Wave #2 Cannot Retrace 100% of Wave #1 2. Wave #3 Cannot be the Shortest Wave (but does…
Wednesday offered some interesting trade set-ups and opportunities that I wanted to describe from an educational standpoint, as the day showed a clear example of a bull flag measured move and momentum divergence… I also discuss Fibonacci retracements for added depth of understanding. With that said, let’s look at the DIA (Dow Jones ETF) 5…
I’ve you’ve been following gold prices lately, you’ve noticed the precipitous plunge from the 1,025 per ounce high made just earlier this year. Rather than getting ultra bearish at these levels, let’s consider the possibility that a bounce may occur, or at least that gold prices are at critical ‘make or break’ short term price…
Research in Motion (RIMM) was in the news prominently last week as the stock plunged after slightly missing earnings expectations. The stock has now found temporary support about its 200 day moving average. How far will the bounce go? The logical reaction after a large volatility momentum move down is an inflection (retracement) back to…
The Dow Jones Industrial Average tested the March closing low today, with a large, sudden plunge to the test and a solid recovery (so far) off this level. The market is at a very critical juncture now. The ‘zoomed in’ daily chart: Price gapped lower this morning and then careened to test the March 2008…
Apple Inc (AAPL) continued its winning streak into May after rising from $120 in March to $180 in May. It’s rare when we see a stock carve out the pattern Apple has, and so we need to look at this pattern to learn from it now. After plunging almost 50% in early 2008, price built…