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REVIEW The week started at SPX 2801. After a slightly higher open on Monday the SPX dropped to 2789 by Tuesday’s open. After that the market rallied to SPX 2817, (new uptrend high), on Wednesday, before pulling back to 2800 on Thursday/Friday. For the week the SPX/DOW were +0.1%, and the NDX/NAZ were -0.25%. Economic reports […]
SHORT TERM: higher open, DOW +79 For the first three days of the week Asian markets have been marginally higher, and European markets up about 1%. The SPX opened slightly higher on Monday, dipped to 2789 by Tuesday morning, then hit an new uptrend high at 2817 today. Since the beginning of July this uptrend continues to make […]
REVIEW The week started at SPX 2760. After a gap up opening on Monday, and higher open Tuesday, the SPX rallied to 2796. A gap down opening on Wednesday took the SPX to 2771. But the market gapped up on Thursday, hit SPX 2799, then moved over 2800 on Friday. For the week the SPX/DOW gained 1.9%, […]
All markets are driven by long term investor confidence cycles. When the cycle is positive a bull market unfolds, when negative a bear market. The Objective Elliott Wave (OEW) technique not only determines if a market is bullish or bearish, it also determines how far a market has progressed in its current cycle. OEW is not […]
SHORT TERM: gap down opening, DOW -219 The SPX rallied 1.2% the first two days of the week. Then overnight Tuesday, it was reported the US was preparing an additional $200B in tariffs against China. Naturally China stated they would retaliate. ES futures dropped immediately and remained substantially lower heading into Wednesday’s open. Asian markets dropped […]