S&P500 update: how did we do, and what’s next?

Since “the proof is in the pudding”, and “past performance is [in this case] a guarantee of future results”, and “you are only as good as your last trade” 🙂 let’s first take a look at how well we did in predicting the recent market decline before forecasting what’s next. The chart below shows our…

NDX adds evidence a larger correction is underway

With today’s ugly price action so far, the larger correction we’ve alluded to last week, see here, and even already a month ago: see here, is now taking hold. Note that neither the NYA nor the SPX have gone anywhere over that time frame: forewarned is forearmed and many of our members -including our trading…

Is the S&P500 about to drop ~100 points?

Last week we showed that the A/D line was negatively diverging signalling further market weakness. As expected, the S&P500 ended the week down and lost ~50p intra-week. Nothing earth shattering, but proving our point in that keeping an eye on what the A/D line is doing is important. Since that’s now water under the bridge,…

A/D line giving warning signals?

The advance/decline line (A/D) plots changes in the value of the advance-decline index over a certain time period -daily, weekly, or even monthly- and is used to confirm the strength of a current trend and its likelihood of reversing. If the slope of the A/D line is up and the market is trending up too,…

DOW suggested today was expected 

Yesterday we provided the below chart of the DOW with our preferred Elliot Wave count. We found nice Fib-extensions for blue (nano) waves iii and (orange) micro 3.  We now expect the market to retrace to the orange target zone for micro 4, before micro 5 can target ~21000.  So far the futures strongly suggest…

SPX 2350 target reached, what’s next?

In August last year we already shared a very simple symmetry breakout target for the S&P500 of SPX2350, based on its long term chart, see here, and we’ve had this chart available to our premium members for even longer. This week the S&P500 reached that target, see below. Mission accomplished? Can we now sit and…