Major Markets Updates Archive.

This page features Intelligent Investing’s daily and weekly updates for :

* Major Markets

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June 12, 2019: This major market update will be very brief as essentially nothing much happened today, and no further evidence was provided on which of the options I am tracking is operative. Sorry I wish it was different, but there are simple -and sometimes long- times, when the markets are unclear and keep us guessing, as there are other times when it is rather straight forward and clear.

June 11, 2019: After another overnight futures driven gap up, there was however no go today, as price succumbed to the negative divergences on the hourly RSI5 and MACD and presented us with the first >20p pullback. Thus, we now know the current wave off the SPX2728 low has ended.

June 10, 2019: The rally off last Monday’s SPX2728 low has been going on unabated on most indices (not the RUT, see page 4). Since normally b-waves subdivide into three smaller (a, b, c) waves, last week’s 20p intra-day pullback is all we got so far, and it thus remains nearly impossible to know for me if this is still only wave-a of b or all of b.

June 6, 2019: The rally off Monday’s SPX2728 low keeps going unabated on most indices (not the RUT, see page 3). Since normally b-waves subdivide into three smaller (a, b, c) waves, yesterday’s 20p pullback is all we got so far, while the hourly RSI5 is simple overbought but shows no sign of negative divergence to suggest a retrace is pending. Thus, it is nearly impossible to know for me if this is still only wave-a of b or all of b.

June 5, 2019: Today’s update will be short and simple as price has eliminated several of the options I was tracking, and the Elliott wave count shown below can be applied to all other indices (as shown in the prior updates): a larger b-wave bounce is underway. Normally b-waves subdivide into three smaller (a, b, c) waves, but besides todays 20p pullback not much more has happened since the low at SPX2728 was reached on Monday and a 100p two-day rally started.

June 4, 2019: Today price reached the ideal target zone for wave-iv of -3/c as outlined yesterday: SPX2775-2798 but blasted right through it which turns things around. Although I stated yesterday “Price will have to move above SPX2810 from current levels without moving lower first to tell us a larger bounce/rally is most likely underway as the then wave-i and -iv overlap, which is not allowed in a standard impulse pattern.” I lower this price level to SPX2806.

June 3, 2019: Today price reached the ideal target zone for wave-iii of -3/c as outlined last week: around SPX2740+/-5p. With price reaching around the 100% Fib-extension of minor-1/c and the 123.6% extension of minute-i/a a, while the technical indicators are displaying positive divergences (green arrows), a bounce back for ideally minute-iv of -3/c to the 76.40-61.8% Fib extensions (SPX2775-2798) appears now most likely before price heads lower to ideally the 138.2-161.8% fib-extension of minor-1/c at SPX2680-2640 and therewith fulfilling my lower downside target projections