Elliott Wave Count on the German DAX Index

A reader recently asked me to give a look at the German DAX Index in terms of a possible Elliott Wave Count to see how it related to the US Equity Indexes.  Here is my preferred count on the DAX Index on both the Weekly and then zooming in on the fractal Daily Count: German DAX Weekly: The DAX Elliott count is very similar to that of the S&P 500, with the exception that the topping process ...

Hewison on the Trend of the Dow Jones

Adam Hewison released a video yesterday regarding Monday’s bearish move and where it occurred in context and what it might mean for the broader market - it’s definitely worth viewing to see his views and price projections. Entitled “The Dow Crash,” though it isn’t as tragic as it sounds, Hewison takes us through line, bar, and candle charts on the Daily and Weekly ...

Interesting Intraday Action Today

There’s so much to write tonight, but let’s focus first on the wild and unexpected events that occurred during the trading day which will be classified as a failed gap fade, failed “rounded reversal,” and - depending on your stop-loss placement - successful trend day down. DIA 5-minute chart: Let’s start by discussing the overnight (weekend) gap.  Price gapped 2% d...

What is Meant by Price “Structure?”

I’ve had a couple of questions recently on the meaning of price ’structure’ so I thought I’d take this opportunity to explain it and show an example of how analyzing price structure can give you a guideline in your trading. Let’s think of ’structure’ as components that hold up price, or the arrangement of price itself that builds upon a basic level to g...

Elliott Wave Count on the CRB Commodity Index

Commodities across the board have taken massive falls throughout 2008.  Let’s take a look at a possible Elliott Wave Analysis for the monthly and daily $CRB Commodity Index to see if we can place these moves within a broader structure. CRB Index Monthly : This structure takes price from the 1999 lows as the start of Wave 1 all the way to the 2008 highs as the termination of the final Wave...

Weekend SP500 Overview with Projection

We’ve had a steady rally all last week in the major US Equity Indexes, but let’s focus on the technical position of the S&P 500 and view both the daily and weekly charts and note possible projections and confluences. S&P 500 Daily: Price is clearly in a daily downtrend with a distinct series of lower lows and lower highs.  The orientation of the key daily moving averages is ...

Holiday Linking

I hope everyone had an excellent Thanksgiving!  Let’s end the week by checking out a few links courtesy NewsFlashr Business and Blog section to head us into perhaps an early weekend. The StockMasters asks is Google (GOOG) stuck at $250 a share? Bespoke Group shows research which declares this The Most Volatile Market Ever.  They report that the average absolute daily performance change of...

Elliott Wave Analysis on the Euro

A reader brought to my attention to look at the Elliott Wave Count for the Euro Index, and there’s an interesting development you might find interesting, or want to share you interpretation of what the count might be, or what might be in store next for the Euro. First, let’s set the stage with a Weekly Chart: The complete Elliott Five Wave Impulse began just before 2006 and terminat...

Examining Tuesday’s Fluid Intraday Swings

Tuesday was an extremely fluid or rhythmically flowing day in the US Equity Indexes.  Let’s view this price action through the DIA including a gap-fade with two bear-flags (Dow Jones ETF) and see what trade set-ups and structure we observed during the trading day. DIA 5-min Chart: The morning began with a large-scale gap (though that definition is narrowing in this environment) which stil...

Reversal in the US Dollar Index Underway

An interesting potential reversal is underway in the US Dollar Index, which could give a boost to commodity prices in the short term.  Let’s look at this development, and also a potentially complete Elliott Wave Impulse graph of the Dollar Index. Dollar Index Daily: : The US Dollar Index has surged steadily from its April bottom to a peak of $88.00 earlier in November.  Price is now formi...