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…

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…

Market breadth is getting very oversold again: can we expect another bounce or a meaningful rally soon?

Six weeks ago we observed market breadth (simple put the difference between the number of stocks advancing or declining on any given day; i.e. market breadth is negative when more stocks decline then advance and vice versa) was getting very oversold and forecasted either a bounce followed by lower prices or a meaningful rally was to…

DOW update; do all roads lead to 17,050?

Since the chart below is rather busy, I’ll explain it below step-by-step. Note that here the bearish count is shown. Our bullish count has the market in wave ii. However, since it’s always prudent to be conservative, let’s go with the more bearish count until proven otherwise. The 1 month free trial period special has…