All Entries Tagged With: "pullback"
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 [...]
Market Overview – May 18th, 2008
Not much to add from last week’s commentary. The market is still chopping around the 200-day moving average, which I should also add is close to the yearly open in all markets. More than likely we’ll see more chop this week and a pullback from the slightly bullish price movement last week. With all the [...]
Market Overview – April 7, 2008
I won’t have time to post a chart tonight but it looks like the market may be pulling back from some resistance on the daily chart. The Dow has traded up to the 12,700 level three times over the last few months with no avail. I still think we’ll see some further upside action and [...]
Market Overview – April Fools Day 2008
With Authority! Today the market made it’s move like we were forecasting last week. It took a couple days to ponder but today was the day it shot out like a canon to the upside closing up by almost 400 points. Advancing stocks outnumbered decliners on the NYSE by an astounding 5-1. Yesterday we traded [...]
Market Overview – March 27th, 2008
Tonight’s update will be brief but I wanted to point out something that was mentioned in yesterday’s update. Even though I have a positive bias and expect the markets to continue higher, it was mentioned that we may see one more pullback before the market continues up. Well today the market did just that as [...]






