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European Debt: An Elliott Wave Perspective

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The Price of Propaganda

What price will Apple and Toyota pay for their endless denials? Forgive me if the two things I want to write about today are old hat by the time you read this, but I was struck by several eerie similarities between them. If you are any sort of technophile, then you have undoubtedly been following [...]

Still Bearish

This may be a quiet low volume week due to the holiday. All eyes will be on Black Friday as this should be an early indicator to what the holiday retail season will look like. Here are some charts showing why I’m still long-term bearish. Most indices have closed beneath their March trendlines which signifies [...]

$SPY Elliott Wave Update 10/25/2009

The market is at a critical point in my opinion. The most likely wave count from the March lows is a W-X-Y structure, which would precede a five wave move to the downside and take the market to new lows. Three key elements lead me to this conclusion that the market has topped or is [...]

Volume Mirage: Biggest Rally Powered By Least Volume

A great post on the Trader’s Narrative blog regarding the volume behind bear market rallies. So far the current rally has been the biggest on the least amount of volume. Very interesting! For a while now, we’ve been concerned that volume hasn’t been powering the market higher. In fact, if you think of volume as [...]

Market Update – 9/16/09

The market continues to climb like nobody’s business! Advancers outnumbered decliners and up-volume outpaced down-volume by about 5 to 1 today. On July 27th I posted an Elliott Wave update predicting a 5-wave advance from the July 7th low that should signal the end of primary wave 2 and lead to much lower prices. We [...]

Don’t Get Fooled by the Bulls – Negative Volume Divergence $$

This morning’s trading began with a gap down and a strong move up until 10:00AM EST. At 10:00 the market went into a free-fall taking out the lows and plunging even further. How was one to know the advance wasn’t going to continue? Many of the indicators were bullish at that point but there was [...]

Stocks above their 200-day moving average

This chart should give you an idea of just how overbought things are right now. Keep in mind that things can stay overbought for a while. It does however demonstrate that more stocks are above their 200-day moving average, currently 91.2%, than at the peak in 2007. For you contrarian investors an extreme level like [...]

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