As said a few times already, 1845 needs to be watched though since a convincing decline below it would most certainly trigger more selling (to 1815 probably).
Author: Patrick Eugster
Friday, February 28, 2014
S&P 500 ~ Pre-Market ~ 28 February 2014
Not much has changed, the market is still trading around 1845-50ish. A convincing break of this week's high should lead to a rally to the trend line at around 1900:
As said a few times already, 1845 needs to be watched though since a convincing decline below it would most certainly trigger more selling (to 1815 probably).
Author: Patrick Eugster
As said a few times already, 1845 needs to be watched though since a convincing decline below it would most certainly trigger more selling (to 1815 probably).
Author: Patrick Eugster
Wednesday, February 26, 2014
S&P 500 ~ EOD ~ 26 February 2014
The market still hasn't decided where it wants to go next. We're still around 1845ish:
If the market breaks this week's high, we should rally towards 1900. Should we get a convincing break below 1845 though, we might test 1815ish again.
Author: Patrick Eugster
If the market breaks this week's high, we should rally towards 1900. Should we get a convincing break below 1845 though, we might test 1815ish again.
Author: Patrick Eugster
S&P 500 ~ Elliott Wave Count ~ 25 February 2014
The SPX is trading sideways around the 1845ish level. As long as we don't decline much further, I think we should rally towards the trend line around 1900ish next:
Author: Patrick Eugster
Author: Patrick Eugster
Tuesday, February 25, 2014
S&P 500 ~ EOD ~ 24 February 2014
The SPX rallied above 1850 but unfortunately didn't close above it. However, as long as 1845ish holds, 1900ish should be our next target. I'd really like to see a daily close above 1850ish though as it would make the rally to 1900ish much more likely.
Author: Patrick Eugster
Sunday, February 23, 2014
Silver ~ Elliott Wave Count ~ 23 February 2014
Cycle waves aren't labeled numerically on purpose.
For commodities and currencies I think that it makes no sense to label waves past the Primary degree. It does make sense if you count stock market indices because they always move up over time and thus you can apply cycles/supercycles etc.
For commodities and currencies however this doesn't work since they do not always move up over time. Thus, numbers/letters are replaced by "low" and "high".
Author: Patrick Eugster
Thursday, February 20, 2014
S&P 500 ~ Intraday ~ 20 February 2014
The SPX declined after it hit the all-time highs yesterday:
Support levels are at 1827 and 1815. As long as 1815ish holds, the medium-term trend is up.
Author: Patrick Eugster
Support levels are at 1827 and 1815. As long as 1815ish holds, the medium-term trend is up.
Author: Patrick Eugster
Wednesday, February 19, 2014
Gold ~ 19 February 2014
Gold is now near the resistance at 1350ish:
The medium-term trend is up as long as 1270ish holds.
(I'll post an EW count a bit later)
Author: Patrick Eugster
The medium-term trend is up as long as 1270ish holds.
(I'll post an EW count a bit later)
Author: Patrick Eugster
Tuesday, February 18, 2014
S&P 500 ~ Elliott Wave Count ~ 18 February 2014
The SPX is quickly approaching the all-time highs at 1850ish:
We may get a short pullback once we get there. But I wouldn't be surprised if we rally quickly towards 1880ish.
The trend remains bullish as long as 1820ish holds.
Author: Patrick Eugster
We may get a short pullback once we get there. But I wouldn't be surprised if we rally quickly towards 1880ish.
The trend remains bullish as long as 1820ish holds.
Author: Patrick Eugster
Thursday, February 13, 2014
S&P 500 ~ Intraday ~ 13 February 2014
The support at 1814ish held this morning:
It looks like 1850ish is our next target.
Author: Patrick Eugster
It looks like 1850ish is our next target.
Author: Patrick Eugster
S&P 500 ~ Pre-Market ~ 13 February 2014
The SPX traded sideways yesterday just above the support at 1814ish:
Currently, the futures are below this level. Unless the market quickly rallies back above 1814ish after the opening, a decline to 1794ish is likely.
Author: Patrick Eugster
Currently, the futures are below this level. Unless the market quickly rallies back above 1814ish after the opening, a decline to 1794ish is likely.
Author: Patrick Eugster
Tuesday, February 11, 2014
S&P 500 ~ Elliott Wave Count ~ 11 February 2014
The rally continued today:
The current rally looks very similar to two previous cases as shown in the chart above. If the similarity continues, we should get just a small correction which would be followed by a rally to new highs.
Author: Patrick Eugster
The current rally looks very similar to two previous cases as shown in the chart above. If the similarity continues, we should get just a small correction which would be followed by a rally to new highs.
Author: Patrick Eugster
Monday, February 10, 2014
S&P 500 ~ Elliott Wave Count ~ 10 February 2014
The rally continued today. It looks like the market made an important bottom at 1740.
The next target should be 1815ish.
Author: Patrick Eugster
The next target should be 1815ish.
Author: Patrick Eugster
Friday, February 7, 2014
S&P 500 ~ Intraday ~ 7 February 2014
The SPX is currently above the resistance at 1774ish. Let's see if we get a daily close above it. If we do, we may have seen an important bottom at 1740ish:
Author: Patrick Eugster
Author: Patrick Eugster
S&P 500 ~ EOD ~ 6 February 2014
The SPX rallied yesterday and hit the strong resistance at 1774ish at the close:
Author: Patrick Eugster
Author: Patrick Eugster
Thursday, February 6, 2014
ES ~ 6 February 2014
The ES has traded sideways overnight and is now near the resistance at 1753-54ish:
If this level can be breached, the strong resistance at 1765ish should be the next target:
Author: Patrick Eugster
If this level can be breached, the strong resistance at 1765ish should be the next target:
Author: Patrick Eugster
Gold ~ 6 February 2014
Gold has tested the June lows in late December. Since then, it has recovered nicely and is now slowly trying to get to the resistance at 1350:
In an hourly chart this uptrend is clearly visible:
As long as the lower trend line holds, the medium-term trend is up. If we break below it, we might test the low at 1200 once again.
Author: Patrick Eugster
In an hourly chart this uptrend is clearly visible:
As long as the lower trend line holds, the medium-term trend is up. If we break below it, we might test the low at 1200 once again.
Author: Patrick Eugster
Wednesday, February 5, 2014
S&P 500 ~ Elliott Wave Count/EOD ~ 5 February 2014
As you can see on the chart below there isn't only a horizontal support at 1745ish but also a rising trend line. Thus, this seems to be an important level:
Even though this seems to be the perfect area to form a medium-term bottom, the trend is still down as long as the SPX trades below 1774ish.
Author: Patrick Eugster
Tuesday, February 4, 2014
S&P 500 ~ EOD ~ 4 February 2014
We got a small bounce today after we hit the support around 1745 yesterday. The market may try to push back to 1774 later this week:
Author: Patrick Eugster
Author: Patrick Eugster
Monday, February 3, 2014
S&P 500 ~ Elliott Wave Count ~ 3 February 2014
After breaking below 1774 today the trend is clearly down. And it will remain bearish as long as we stay below this level.
Below you can see an updated version of the wave (4) count. There are obviously more bearish alternatives but for now I prefer to keep it simple. No important long-term supports have been breached and thus I'll remain cautiously bullish long-term.
We've had many sell offs since late 2011. They measured between 80 and 155 points. The current decline measures 110 points so far. Thus, bears shouldn't get too excited yet.
Author: Patrick Eugster
Below you can see an updated version of the wave (4) count. There are obviously more bearish alternatives but for now I prefer to keep it simple. No important long-term supports have been breached and thus I'll remain cautiously bullish long-term.
We've had many sell offs since late 2011. They measured between 80 and 155 points. The current decline measures 110 points so far. Thus, bears shouldn't get too excited yet.
Author: Patrick Eugster
S&P 500 ~ Intraday ~ 3 February 2014
After many failed attempts the support at 1774 was broken today:
There should be support at 1745ish and at 1730
Author: Patrick Eugster
There should be support at 1745ish and at 1730
Author: Patrick Eugster
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