S&P500 remains on track for 2300-2280.

“Less is more.”, “No need to change the winning team.”, “Forewarned is forearmed.” Great sayings that mean nothing is you can’t back them up. Well, starting late-February we already warned of an impending intermediate-term market top and correction, which we then backed up again early-March. See here and here. We then showed the weak weekly…

S&P500 weekly chart remains weak: correction ongoing.

Since late-February, see here, we were one of few that have been correctly foretelling of the ongoing market correction, and haven remained that POV, as it has now lasted 27 days. The Russell2000 underscores our story and POV: it is the small caps index and indicative of a “risk-on” vs “risk-off” market. It has been flat…

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…

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,…

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…