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Friday, July 19, 2013

Elliott Wave Update ~ 19 July 2013

Buy and hold is back:

http://www.marketwatch.com/story/buy-and-hold-wins-again-2013-07-19

http://www.marketwatch.com/story/the-ultimate-buy-and-hold-strategy-2013-07-17?link=mw_story_kiosk

Of course I take a contraian view.


Technically we have NYAD in a negative divergence situation in both the daily and weekly charts. That hasn't really happened since the 2009 low.
Overall wave count. In the zone. Techncially note the ever decreasing volume and the waning MACD history.  At an all time high yet MACD history bars are barely positive! Bearish!
CRB. Worked off oversold and now is near overbought yet prices have languished.
Squiggle count:
P3 lives!


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