Custom Search

Friday, February 3, 2012

Elliott Wave Update ~ 3 February 2012 [Update 6:15PM]

Update 6:15PM: A closer look at that NASDAQ100 chart I posted below.
I like the [w][x][y] on TLT.  Thrust up in TLT would likely signal thrust down in stocks.
All must be calm and well. VIX hammer candle in the making? Doesn't mean price high yet for equities, but it will for the VIX so its getting there.
Got my eye on MUB still. A thoroughly bearish engulfing candle. Needs follow-through to the downside.
Wilshire shows a mature 5 wave pattern.
Whats the problem here? Oh yeah, banks suck. Ignore at your own risk.
DOW THEORY non-confirmation with today's closing high of the DJIA verus Transports. Highest close since May 2008. The rest of 2008 worked out well for the bulls huh? Tick...tick..tick...
Global Dow tells the real story: Barely past 50% retrace on overbought conditions.  Yeah go bulls!
Wilshire striking the line.
SPX closing outside BB's.  Yeah Prechter's 1260 stop may be in danger.
Divergence in McClellan's. Small, but its there.
Ya gotta admit: Its a good-looking count even if its wrong.

blog comments powered by Disqus