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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 […]
REVIEW The week started at SPX 2718. After a gap down opening on Monday to SPX 2699, the market rallied for the rest of this holiday week. Tuesday’s gap up opening carried the SPX to 2737. Then after a pullback to SPX 2713 by Tuesday’s close, the market gapped up again on Thursday. By Friday the […]
SHORT TERM: national holiday in US For the first three days of this week we have seen the Asian markets decline, and European markets slip lower as well. US markets opened Monday with a gap down, hit SPX 2699 soon after the open, rallied to 2737 after a gap up on Tuesday, then sold off to […]