The futures broke the neckline of the H&S (and the triangle) and it looks like we're on the way to 1590-95.
Friday, May 31, 2013
ES ~ EOD ~ 31 May 2013
Wow! The SPX drops more than 10 handles in the last fifteen minutes!
The futures broke the neckline of the H&S (and the triangle) and it looks like we're on the way to 1590-95.
The futures broke the neckline of the H&S (and the triangle) and it looks like we're on the way to 1590-95.
ES ~ Globex ~ 31 May 2013
Overnight the ES erased yesterday's gains:
It looks like a H&S is forming. If the strong support around 1635ish is broken, we should see a sell-off to at least 1620, more likely down to 1590ish though.
It looks like a H&S is forming. If the strong support around 1635ish is broken, we should see a sell-off to at least 1620, more likely down to 1590ish though.
Thursday, May 30, 2013
ES ~ Globex ~ 30 May 2013
The futures declined slightly overnight:
We didn't quite sell off to 1635 yesterday. If we don't get a break above the declining trend line, I think we could see it today though. Else a rally back to 1660 seems likely.
We didn't quite sell off to 1635 yesterday. If we don't get a break above the declining trend line, I think we could see it today though. Else a rally back to 1660 seems likely.
Wednesday, May 29, 2013
ES ~ Globex ~ 29 May 2013
The ES sold off overnight. We're currently trading around 10 handles lower than yesterday:
It looks like we could see 1635ish today.
It looks like we could see 1635ish today.
Tuesday, May 28, 2013
S&P 500 ~ Intraday ~ 28 May 2013
The SPX hit the resistance at 1673ish this morning and then reversed:
We're now back at the support area between 1660 and 1664. If we decline below it, I think we could close today's gap (1650).
We're now back at the support area between 1660 and 1664. If we decline below it, I think we could close today's gap (1650).
S&P 500 ~ Pre-Market ~ 28 May 2013
The last nine Tuesday have been up. Let's see if we add another one today.
Support and resistance areas for today:
Support and resistance areas for today:
ES ~ Globex ~ 28 May 2013
The ES rallied overnight and is now above the previous resistance at 1660ish:
Thursday, May 23, 2013
S&P 500 ~ Intraday ~ 23 May 2013
We got a very nice reversal after the SPX hit the support just above 1635 this morning:
I think this short-term rally should continue for a bit longer. 1660-65 should be our next target.
I think this short-term rally should continue for a bit longer. 1660-65 should be our next target.
ES ~ Globex ~ 23 May 2013
The sell-off continued overnight. The ES lost another 20 handles and hit the support area at 1630-33:
Wednesday, May 22, 2013
S&P 500 ~ Elliott Wave Count ~ 22 May 2013
Today we got the biggest drop since mid April. After reaching a new all-time high at 1687, the SPX reversed and declined to 1649.
Possible short-term count:
It's too early to tell though if today was the start of a medium-term correction. We have to wait and see what happens the next few days.
Possible short-term count:
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| (previous count) |
EUR/USD ~ 22 May 2013
The Elliott wave count for the EUR/USD looks still pretty good. I think wave [i] will be finished soon:
For a long-term chart click here.
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| (previous count) |
For a long-term chart click here.
S&P 500 ~ Pre-Market ~ 22 May 2013
Support for today is at 1660.5-1663.5 and at 1650-51 and resistance at 1672-73.
Tuesday, May 21, 2013
ConocoPhillips ~ 21 May 2013
COP broke 62ish earlier this month (previous post):
If we stay above 61, a rally to 73ish (2008 top) seems likely.
If we stay above 61, a rally to 73ish (2008 top) seems likely.
S&P 500 ~ Pre-Market ~ 21 May 2013
The last eight Tuesdays have been up. Let's see if we get nine in a row.
The next supports are at 1650 and 1660ish. As long as these two levels hold, the short-term trend is still up.
The next supports are at 1650 and 1660ish. As long as these two levels hold, the short-term trend is still up.
Monday, May 20, 2013
Silver ~ 20 May 2013
Silver hit the strong support area between 19.5 and 21 with a 10 % crash to 20.25 right after the open on Sunday:
Since then, we've seen a huge rally and silver is now up 12 % since last night. This could very well be an important low. The last time we saw such a big reversal was in September 2011. Back then, silver rallied 15 % over the next few weeks. If we got a 15 % rally again this time, we would see 26ish.
Since then, we've seen a huge rally and silver is now up 12 % since last night. This could very well be an important low. The last time we saw such a big reversal was in September 2011. Back then, silver rallied 15 % over the next few weeks. If we got a 15 % rally again this time, we would see 26ish.
Friday, May 17, 2013
AUD/USD ~ 17 May 2013
Well, that was quick: the AUD/USD is already near my target level around 0.97:
I think the sell-off should stop around this level - at least short-term.
I think the sell-off should stop around this level - at least short-term.
Wednesday, May 15, 2013
EUR/USD ~ 15 May 2013
The EUR/USD is approaching the neckline of a huge H&S:
If the neckline is breached, we should see a sell-off to 1.21ish.
If the neckline is breached, we should see a sell-off to 1.21ish.
Tuesday, May 14, 2013
AUD/USD ~ 14 May 2013
After trading between 1.015 and 1.06 for almost a year the AUD/USD broke below 1.015 a few days ago and is now already below 1:
It looks like the next target is the support at 0.965-0.97.
It looks like the next target is the support at 0.965-0.97.
S&P 500 ~ Elliott Wave Count ~ 13 May 2013
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| (previous count) |
Wave [iv] probably finished at 1623 and wave [v] should be underway if 1635 is convincingly broken.
Thursday, May 9, 2013
Wednesday, May 8, 2013
Google ~ 8 May 2013
Google has added another 60 $ since my last update:
The trend remains bullish as long as we stay above 835ish.
AUD/USD ~ 8 May 2013
Target hit:
If 1.015ish holds once again, we should get a rally, probably all the way back to 1.06. The first objective is 1.035ish.
If 1.015ish holds once again, we should get a rally, probably all the way back to 1.06. The first objective is 1.035ish.
Tuesday, May 7, 2013
S&P 500 ~ Elliott Wave Count ~ 7 May 2013
The rally continued today. The SPX hits a new all-time high at 1626.
Monday, May 6, 2013
S&P 500 ~ Elliott Wave Count ~ 6 May 2013
After the big rally on Friday, the market consolidated today:
It looks like this is just a short rest before the market rallies higher (like in early March after the rally on March 5th).
It looks like this is just a short rest before the market rallies higher (like in early March after the rally on March 5th).
Friday, May 3, 2013
Thursday, May 2, 2013
USD/CHF ~ 2 May 2013
We got another huge sell-off after the USD/CHF touched the trend line at 0.945:
AUD/USD ~ 2 May 2013
After a rally to the resistance at 1.037 the AUD/USD reversed again and is approaching the support between 1.015 and 1.02 now:
S&P 500 ~ Intraday ~ 2 May 2013
For the third time this week the SPX is at the resistance at 1597ish.
The last two times we got two nice corrections. We'll see if we get a reversal at 1597 once again.
S&P 500 ~ EOD ~ 1 May 2013
Once again we got a very nice pullback after the SPX hit the resistance at 1597:
Wednesday, May 1, 2013
S&P 500 ~ Intraday ~ 1 May 2013
So far, today looks exactly like yesterday:
Ben talks in about three hours. Thus I doubt we break either below 1587 or above 1597 prior to that. If we get below 1587, 1576 should be the next objective. If 1597 breaks, a 10 handle rally is likely.
This will be the last post until tonight. Instead of watching Paper (Money) Man Bernanke, I'll be watching Iron Man tonight.
Ben talks in about three hours. Thus I doubt we break either below 1587 or above 1597 prior to that. If we get below 1587, 1576 should be the next objective. If 1597 breaks, a 10 handle rally is likely.
This will be the last post until tonight. Instead of watching Paper (Money) Man Bernanke, I'll be watching Iron Man tonight.
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