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European Debt: An Elliott Wave Perspective

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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 [...]

Is it over yet? $$

Well the market made a new high yet again and appears to be running out of steam as almost all momentum indicators are screaming ‘NEGATIVE DIVERGENCE’! Let’s see if tomorrow brings any selling and once we can confirm the down move has begun I will post some targets. If the down move were to start [...]

Wave 5 Near Complete – $SPY

Wave 5 is nearing completion and should correct in an A-B-C pattern over the next week or so. Notice the negative divergence in the rate-of-change indicator that is very common at the end of a 5-wave rally. I don’t have expectations at this point regarding the depth of the correction, but once the pattern starts [...]

Heed Caution!

The Wall Street analysts have been calling the bottom all week but just be careful out there. This is one of my favorite indicators, Worden’s 4-week cumulative high-low indicator (green). I posted about it before, but as you can see it has failed to confirm the latest rise in the markets (red line = S&P). [...]

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