Custom Search

Friday, February 26, 2021

Elliott Wave Update ~ 26 February 2021

The market ended today in a bearish manner and prices broke underneath the recent previous low.  Also, prices ended back below Inauguration day. So one can say that the stock market is lower - despite the supposed "honeymoon effect" of a new regime - than on post Inauguration Day.

I'm not suggesting that events foretell social fact the opposite; social mood waves occur first and then the resulting outcome of that mood shift manifests itself in the interpretation of the events of the day and subsequent economic outcomes.

Mood moves first --  events and outcomes resulting from the mood shift will then follow. (or more accurately our reaction or non-reaction is based on the mood)

If the DJIA was an ending (expanding) diagonal triangle, then price collapse is coming....

German DAX sports the same structure(s).

Lower low today = bearish. Sell program instituted at end of day, end of week, end of month = bearish.

Weekly looks good.
Despite the recent bearish downtrend, the monthly finally ended in an overbought condition. 
Lots of charts seem "done"...

Top alternate count is below.  Thus, prices would hold above pink (iv) of green [iii] goes sideways to form a corrective green wave [iv], the on to new highs in [v] of 5 (or [v] of C).

blog comments powered by Disqus