Part 1:

24 Comments

You Can Finally Follow Me on Twitter @ korenidan87
 

2 Comments

Today we look at the alternate views of the longer term market based on Elliott wave analysis. Some other things to keep in mind is that this market needs to retrace very very soon. We managed to call the top around 1044-1046 today, and we expect some sort of selling pressure into monday. We look at SPX, Dow Jones, JPM and XLF (which are both forming H&S formations).

30 Comments

Today we look at the SPY chart longer term, and talk about the fact that the market is showing similar signs to the action we saw 2 weeks ago, only one big thing has changed: The financials continue to underperform the market. Even though today was a commodity based rally due to weakness in the dollar, we believe that tomorrow will be the day that will decide wether this market is able to make new highs or if it’s going to go back lower to play the lower end of the wedge formation. We also talk about the JPM trade that we have on, and look at the financials XLF ETF that is forming a H&S.

2 Comments