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REVIEW The week started at SPX 2656. After gap up openings on Monday and Tuesday the SPX rallied to 2717 by Wednesday morning. Then over the next two days the SPX came within 5 points of giving it all back when hitting 2661 late Friday, before bouncing to end the week at 2670. For the week […]
SHORT TERM: gap down opening, DOW -83 Overnight the Asian markets gained 0.7%. Europe opened higher and gained 0.1%. US index futures were lower overnight. At 8:30 weekly jobless claims were lower, and the Philly FED was higher. The market opened at SPX 2700, after closing at 2709 yesterday. The decline continued until 10am when the […]
SHORT TERM: gap up opening again, DOW +214 Overnight the Asian markets lost 0.2%. Europe opened higher and gained 0.9%. US index futures were higher overnight. At 8:30 building permits and housing starts were reported higher. Then at 9:15 industrial production was reported higher too. The market opened at SPX 2695 and continued to rally. […]
REVIEW The week started at SPX 2604. After a gap up opening on Monday the market rallied to SPX 2654. Then sold off to SPX 2611 in the last two hours of trading. On Tuesday another gap up opening carried the SPX to 2663. Then a 27 point decline occurred within one hour. But the […]
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 […]