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REVIEW The week started at SPX 2840. After a flat opening on Monday the market rallied to a new uptrend high at SPX 2863 by Tuesday morning. After that the market went sideways for two days before heading lower late Thursday into Friday. For the week the SPX/DOW lost 0.45%, and the NDX/NAZ gained 0.30%. Economic […]
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: flat opening then lower, DOW -45 So far this week the Asian markets gained 1.2%, and the European markets have gained 0.6%. The SPX started the week at 2840, then rallied to 2863 by Tuesday. Just 10-points shy of an all-time high it started to pullback. The Monday rally took the SPX over 2848, quantifying […]
REVIEW The week stated at SPX 2819. After a higher open on Monday the market sold off to SPX 2798 by early afternoon. A gap up opening on Tuesday carried the SPX to 2826 by Wednesday morning. Then another pullback, aided by a gap down opening Thursday, took the SPX down to 2796 that morning. […]
SHORT TERM: higher open – then decline, DOW -81 So far this week the Asian markets have lost 0.3%, and the European markets have lost 0.5%. US markets started the week at SPX 2819, dropped to 2798 on Monday, hit 2826 today, and then dropped to 2806 in the afternoon before closing at 2813. Not much progress here, […]