Weekend Update: May 25th, 2014 – The Tale of 2 Wedges

by | May 26, 2014

"Now that we have a potentially completed terminal structure in the equity markets, we now need to see further evidence for a potential change in trend. That is, an impulsive 5 wave decline below 1814 and then a 3 wave counter-trend rally terminating below 1902. Until this "wedge" is broken to the downside, we cannot […]

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Market Update: May 22nd, 2014 – Goal Line Stand

by | May 22, 2014

The bearish wedge formation across most equity indices I follow warn that we remain in a topping process for the 5 year bull market. My weekend update discussed that while last week's SPX/DJIA high was sufficient for the final wave, we needed to see downside follow through to confirm. Nothing has changed from a bigger picture […]

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Weekend Update: May 19th, 2014 – Are we there yet?

by | May 19, 2014

So far, so good. Last week, the SPX finally made the new ATH I had been waiting for to potentially complete the Ending Diagonal 5th and final wave and promptly reversed lower. The trend is your friend until it bends. From last week's update: "We are now in a final wave thrust from the triangle prior to […]

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Market Update: May 13th, 2014 – Almost There…

by | May 13, 2014

So far so good... The Euro reached my 1.40 upside target and sell zone and reversed lower; the DJIA and ES have made new highs (as expected with a triangle thrust), the SPX is less than 1 pt from new ATH's and the DAX is breaking out of its 2014 consolidation. I continue to believe […]

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Market Update: May 9th, 2014 – Euro Target Met

by | May 9, 2014

Patience and discipline are rewarded. My EUR/USD 1.40 sell zone target was hit on Thursday (HOD 1.3993 thanks to Draghi) and promptly reversed lower for an outside key reversal day and 150 pip decline. Like the SPX, it has been forming an ending diagonal, a terminal structure. A break of the blue and red trendlines would help confirm a […]

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