Weekend Update: October 20th, 2014 – Decision Time

by | Oct 20, 2014

So far so good. Late last week the equity markets bounced into my target range (1880-1900) where we would expect wave (iv) to terminate. So far we only have a 3 wave decline from the ATH's and another marginal new low (below 1820) is required to confirm an impulsive 5 wave decline before 1926 is exceeded […]

Market Update: October 16th, 2014 – May we live in interesting times…

by | Oct 16, 2014

Well, we certainly got the waterfall decline I was looking for this week with Wednesday's 60pt decline on the SPX and other global indices. Fortunately, I was on the right side of that plunge. Bear markets are associated with extreme volatility both up and down and that is exactly what we've seen. Bull crushing plunges […]

Market Update: October 14th, 2014 – Don’t go chasing waterfalls

by | Oct 14, 2014

So far so good. Equity markets continue their downdraft as we stair step our way down. No surprise to anyone that's been following my work. Corrective rallies and impulsive declines, lower highs and lower lows, key trendline and daily sma breaks define the trend. Until this changes, the trend remains down. Near term resistance resides at the 200 […]