Archive for July, 2009
Oh So Close to 100 – $SPY
There’s a good chance the short-term high is in and we will begin a partial retracement of the rally that began on July 8th. I mentioned yesterday to be on the look out for a negative divergence on the rate-of-change indicator and we got that today after coming so close to $100. A convenient way [...]
Elliott Wave Update – $SPY
Given the market’s resilience, hanging on to the rally by consolidating at the highs, there’s a good chance we have one more new high before a correction. I don’t think we’ll go much higher but I could be wrong. Wave 5 typically equals the distance traveled in Wave 1 which if this labeling is correct, [...]
What’s up with Gold?
I think it came as a big surprise to many traders that the gold market imploded on Tuesday pushing to its lowest levels in several days. The downward spiral was enough to trigger a daily “Trade Triangle, moving things into the neutral camp on this market. So the question is: Is the sharp downward move [...]
Every so often …you get the key to the market
Every so often something comes along in the financial world that is very special. Today is one of those days. The good news is it’s coming from a world class company that has being on the web since 1995, so you know it’s valid. Here’s what all the buzz is about. We call it INO [...]
Elliott Wave Update – $SPY
I’ve received a few emails regarding the longer-term Elliott Wave structure so on the charts below I’ve labeled what I believe to be the most likely scenario. Let be preface by saying, given the number of assumptions being made there’s a good chance the timing may be off but the overall structure is the point [...]
New Video: How high will the S&P go?
With the S&P 500 making new highs and as world equity markets following suit, the question becomes how high can we go? In this short video on the S&P 500, Adam outlines some mathematical upside target zones that he is looking at for this market. Watch Video
New Video: How you SHOULD have traded Goldman
Goldman Sachs (NYSE_GS) declared record earnings of $3.4 billion for the three months prior to June, only months after it accepted government assistance. My gut reaction is how can an institution that so embodies Wall Street be making so much money as if the credit crisis never happened. In today’s short video Adam analyzes the [...]
