Author: Patrick Eugster
Friday, January 31, 2014
ES ~ Globex ~ 31 January 2014
Once again the futures declined overnight to the support level around 1765-70:
If it holds again, we should see another rally towards 1800ish.
Author: Patrick Eugster
If it holds again, we should see another rally towards 1800ish.
Author: Patrick Eugster
Thursday, January 30, 2014
S&P 500 ~ EOD ~ 30 January 2014
The SPX rallied once again today after touching the support level at 1774ish for a second time yesterday. We also broke the resistance level at 1794. Hence, as long as this level holds, we should aim for 1814ish:
The green circles show the FOMC fractal I talked about yesterday. So far, this looks pretty good.
Author: Patrick Eugster
The green circles show the FOMC fractal I talked about yesterday. So far, this looks pretty good.
Author: Patrick Eugster
Wednesday, January 29, 2014
S&P 500 ~ EOD ~ 29 January 2014
The SPX has been trading just above the support level all day:
The pattern looks very similar to the last FOMC statement in mid December. Back then after an initial decline to below 1770 the SPX rallied to 1820 by Friday.
Let's see if we get a similar rally tomorrow or if we decline below 1770 and aim for 1750.
Author: Patrick Eugster
The pattern looks very similar to the last FOMC statement in mid December. Back then after an initial decline to below 1770 the SPX rallied to 1820 by Friday.
Let's see if we get a similar rally tomorrow or if we decline below 1770 and aim for 1750.
Author: Patrick Eugster
ES ~ Globex ~ 29 January 2014
Overnight, the futures first rallied to 1800 but then crashed down to the strong support level at 1770ish:
Let's see if this level holds. If it holds, we might see another rally attempt to 1800+.
Author: Patrick Eugster
Let's see if this level holds. If it holds, we might see another rally attempt to 1800+.
Author: Patrick Eugster
Tuesday, January 28, 2014
S&P 500 ~ EOD ~ 28 January 2014
The rally continued today:
1794ish seems to be a short-term resistance. If we can break it, the next target should be 1814ish.
Author: Patrick Eugster
1794ish seems to be a short-term resistance. If we can break it, the next target should be 1814ish.
Author: Patrick Eugster
Monday, January 27, 2014
S&P 500 ~ Elliott Wave Count ~ 27 January 2014
After important support levels were broken on Friday, the bullish count I posted last week is now very unlikely. It looks like we're in a fourth wave and thus will spend more time around the 1800ish are for the next couple of weeks.
However, if you look at a chart covering the last two years, you can clearly see that these 80 to 120 points declines were usually quickly retraced. Thus, this fourth wave might finish quicker than I currently expect.
Author: Patrick Eugster
However, if you look at a chart covering the last two years, you can clearly see that these 80 to 120 points declines were usually quickly retraced. Thus, this fourth wave might finish quicker than I currently expect.
Author: Patrick Eugster
S&P 500 ~ EOD ~ 27 January 2014
So far, so good. We got a nice rally to 1790+ after the SPX hit the support at 1775ish:
Most of the gains were lost by the end of the day, so we'll see if the rally actually continues towards 1814ish tomorrow.
Author: Patrick Eugster
Most of the gains were lost by the end of the day, so we'll see if the rally actually continues towards 1814ish tomorrow.
Author: Patrick Eugster
S&P 500 ~ Intraday 2 ~ 27 January 2014
We are now at the next strong support level. Let's see if we get a bounce:
If we get a reversal, 1814ish is a possible target.
Author: Patrick Eugster
If we get a reversal, 1814ish is a possible target.
Author: Patrick Eugster
S&P 500 ~ Intraday ~ 27 January 2014
The important support at 1814ish was breached on Friday and the SPX declined below 1800. The next important level should be at 1775ish:
Author: Patrick Eugster
Author: Patrick Eugster
Friday, January 24, 2014
ES ~ Globex ~ 24 January 2014
As mentioned yesterday, a break of 1832ish (~1827ish in the ES) should lead to a decline to 1812-16 (= ES 1805-10). Overnight the sell-off continued and we hit the support area a few minutes ago:
I think that we will see a bounce at this level, targets are 1820 and 1830 (ES).
Author: Patrick Eugster
I think that we will see a bounce at this level, targets are 1820 and 1830 (ES).
Author: Patrick Eugster
Thursday, January 23, 2014
Dow Jones ~ Elliott Wave Count ~ 23 January 2014
It looks like we're still in a second wave. If the January highs are breached, we should get the next big rally to much higher levels (third wave).
Author: Patrick Eugster
S&P 500 ~ Intraday ~ 23 January 2014
The SPX is down about 14 handles currently and is trading at the support level at 1732ish:
If this level holds, we could see a rally back to 1840ish or even an attempt to close the gap at 1845ish. If the area breaks, we should see a decline to the strong support area at 1812-16.
Author: Patrick Eugster
If this level holds, we could see a rally back to 1840ish or even an attempt to close the gap at 1845ish. If the area breaks, we should see a decline to the strong support area at 1812-16.
Author: Patrick Eugster
Wednesday, January 22, 2014
Tuesday, January 21, 2014
Tuesday, January 14, 2014
Dow Jones ~ Elliott Wave Count ~ 14 January 2014
I slightly adjusted the short-term count:
Yesterday's count is still possible though.
I think that wave [iii] is underway if the 16450ish area is broken.
Author: Patrick Eugster
Yesterday's count is still possible though.
I think that wave [iii] is underway if the 16450ish area is broken.
Author: Patrick Eugster
Monday, January 13, 2014
Dow Jones ~ Elliott Wave Count ~ 13 January 2014
The Dow Jones declined below the trend line and then dropped an additional 100 handles to around 16250.
Author: Patrick Eugster
Author: Patrick Eugster
Thursday, January 9, 2014
Dow Jones ~ Elliott Wave Count ~ 9 January 2014
The Dow is currently trading inside a bull flag:
If we break above the upper trend line, the rally should continue.
Author: Patrick Eugster
If we break above the upper trend line, the rally should continue.
Author: Patrick Eugster
Wednesday, January 8, 2014
Tuesday, January 7, 2014
Monday, January 6, 2014
Dow Jones ~ Elliott Wave Count ~ 6 January 2014
I hope you had a nice holiday season and I wish you all the best in 2014.
Despite the weak first few days in the new year, for now, it looks like this is just a temporary correction.
Important support levels are at around 16100 and 15700. As long as these two levels hold, the medium-term trend is up.
Author: Patrick Eugster
Despite the weak first few days in the new year, for now, it looks like this is just a temporary correction.
Important support levels are at around 16100 and 15700. As long as these two levels hold, the medium-term trend is up.
Author: Patrick Eugster
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