Jun 272014
 
 June 27, 2014  Posted by at 7:17 am No Responses »

Yesterday the DJIA put in a sequence (highlighted in blue) that hints at a more extended move in that direction.  The simplest retrace would be back towards the ATH’s in wave black B of a flat retracing a minimum of 90% of wave black A.  A combination correction in blue would be the least likely as a result of the S&P 500 not retracing the 23.6% for it’s presumed fourth wave and the odds of that weighted at 15%.  A running triangle wave B in red is still a very viable option as well.  Ultimately I’m expecting more lows it’s just a matter of whether we go sideways and then down or retest the highs and complete a round trip lower.  Either way I fully expect black C/Y to be realized.

 

dji

Jun 262014
 
 June 26, 2014  Posted by at 7:34 am No Responses »

I’m going to try a new format over here since I feel the space is getting under utilized.   Each morning I’ll toss up a 60min chart with an updated count to map the  progression on this long strange trip we’re in.  SPX appears to have put in three down into yesterday’s open and is now bouncing in either a wave b, or is about to rip some beary furry faces off in a nested third wave (blue alt count).  There are still entirely too many options on the rally wave from yesterday’s low so I’m forgoing a more detailed short term chart for the sake of simplicity.

 

 

SPX

 

 

 

Jun 102014
 
 June 10, 2014  Posted by at 9:34 am No Responses »

I’ve been tracking a diagonal in the Dow Jones Industrials for what seems like forever, and finally two other markets decided to join in the fun, NYSE Composite and the S&P 500.   All three markets have clear invalidation points to the upside for the current wave and plenty of room to work in both directions.  As I believe volatility is set to pick up, I also believe there is a slow grind upward still in progress.

 

DOW JONES INDUSTRIAL AVERAGE

dji

 

NYSE COMPOSITE

NYA

 

S&P 500

SPX

There is no rushing these structures, so the road may be long and boring for these to play out.