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Elliott Wave
News
NEW YORK -(Dow Jones)- U.S. stocks were little changed in afternoon trading after three batches of tepid U.S. economic data tempered investor optimism over strong Italian and Spanish debt auctions.
CFD Commodities
US Gold CFD: 1652
Technical Analysis
TradingLevels: The price is working with the 1650 MediumLevel and from a trading point of view we have to allow it to unfold its pattern, if the pattern is bullish corrective (three swings across the level) and then finds support, then the trade is long, if resistance then we start looking for a short trade. The fact that it’s above the 1650 gives it a bullish start, secondly the Copper market (base metals) is extending higher…
Elliott wave: There is an Elliott wave count that completes the move up here at the 1650 and that’s fine however I have learnt over time that we need evidence of a turn before selling and while the price is above a level we don’t short, only on a failed retest and intraday impulse waves down. Either way the next few sessions should be corrective, so we aren’t missing anything, this is the same for silver.
Sliver Expect a corrective pattern at 30.00, don’t trade until you understand the unfolding pattern at 30 TL3 it could take three days to sort itself out the 28.72 SG2 is the support and this is likely to be tested IF the price works under the 30.00, the first support is SG2 of 29.00 i.e. 2965|2972|2980, with 2972 the most important
Oil WTI: 101.80
Technical Analysis:
TradingLevels: Oil is still sitting in Group1 and the first sign of strength would be finding support on the pivot 102, but it’s the 103 the top of Group1 that is the evidence for the safer long trade
Elliott wave: While the price is above 100, the Elliott wave count can is for new highs above 103 to 105. This would be helped by stock, so the Dow would need to push higher from the current lows 12400
Base Metals
US Spot Prices (in l/b)
US Copper: Last: 3.62+
US Nickel: Last: 8.91+
US Zinc: Last: 0.88+
US Aluminium Last: 0.95-
Copper CFD: 363
Technical Analysis
TradingLevels: Copper is now working with Subgroup2 (SG2 – 365|372|380) the price pattern is an impulse wave up and the longer term target is a retest of 400.
The Elliott impulse wave up should see the top of wave three and wave four corrective pattern unfold within SG2 with wave five up towards 400 the MediumLevel ML4. This move strengths most metals and therefore Materials sectors and Asian markets, ASX, Shanghai..
Forex
Forex US Dollar: 81.00
Technical Analysis
TradingLevels: The move down is the Wave c of the abc corrective pattern we have been tracking and the mirror opposite for the Euro. The Wave c will have five smaller waves in it, so we could see the price move through 81.00 to next support 80.72
Once the Wave c is completed we should see the Dollar move up and the Euro down, so if the Dollar does move down below 81.00 to 8072 etc, then finds supports on 81.00 then look for a long trade scaling in via SG1 of 81
Forex EURUSD 1.2830
Technical Analysis
TradingLevels: The Euro and SP500 are out of whack so keep an eye on that as they we pull together again. The current move up should spend time at 128, if it does find support after three swings then the target would be 12872 SG2
Elliott wave: Wave c up, like the US Dollar down in five waves, this Wave c up will have five smaller waves, counting from the last low at SG2 12672 zone, at a guess the current high around the 12840 is the top of wave three? With wave four about to unfold back into 128, however the 12840 maybe also the top of the fifth wave, I’m just not too sure.
Trading Strategies: the 12840 top of wave three or five?, so use the levels to trade, that if it’s the top of wave three, then wave four will come back to 128 in a slightly messy corrective pattern, so just allow it to unfold, after at least three swings into 128 if it finds support, then look to trade long when it get back above 128 as support and use SG1 to scale in, with targets at 12872, don’t go long when the price is below 128, because if the top 12840 is the top of wave five, then the bear market is continuing its trend down and you need to be short
Forex AUDUSD 1.0320
Technical Analysis
TradingLevels: The 10372 target was reached, but while the price is above 103 and 10272 the market is positive. Support on group1 10330 is a platform for longs. Keep an eye on the SP500 and Copper as this market is tuned to them.
Elliott wave: There are a few ways to count the current structure, so choose your degree of structure to trade and set your rules around that. The Asian markets seem positive however the US indices are still battling with their resistances so be careful with long trades, we could end up seeing a larger corrective pattern at 103, while the price is above the 10272 consider it positive
Trading Strategies: Trade the sublevels
Indices
Resistance 12500 Dow / SP500 1300 IF they become support, then markets are positive, if supports are broken Dow 12272 / SP500 1272 then negative. Dow target 12,772 SG2 if support is found on 12,500
Dow Jones CFD 12,437
Technical Analysis
TradingLevels: There’s not a lot I can add here, we are just observing the patterns unfold, we know there is resistance here, we know indicators are showing the same, we know there would be corrective price action here and not to get involved but also not to make any early predictions until we can see the evidence either in the price action pattern or 12500 as support or resistance, we can see the trend is up, but we can also see weakness in the trend.
Elliott wave: the five wave structure up is still unfolding, its just a bit messy and weak, but targets can be at 12800 / 12772
Trading Strategies: Long off 12400 SG1 and the Midpoint 12450
S&P500 CFD: 1290
Technical Analysis
TradingLevels: Another retest of 1300 from the 1290
Elliott wave: A move above 1300
Trading Strategies: Same again - support on 1290 creates the long but exit before 1300 and of course use the group1 midpoint and group2
FTSE 100 CFD: 5682
Technical Analysis
TradingLevels: Long of 5672 the next move should move up through 5700
Elliott wave: Targets 5772 - 5800
Trading Strategies: you may have had problems in the last session, but don’t give up as the corrective pattern looks more completed now, and supports such as SG2 5665|5672|5680 will have more meaning
SPI CFD 4189
Technical Analysis
TradingLevels: The 4200 mTL2 is the pivot within MinorGroup1 this is important as it’s the balance line in within Minor Group1. Support on 4200 creates the long to 4272
Elliott wave: Unsure
Strategies: trading long off 4200 as support, use SG1 4210|4220|4230 to scale in the 4172 SG2 is the zone of support, if the 4172 becomes the resistance then short. The building of support at 4200 will be messy, the breakout – the first high above the level 4200 is likely to retest the 4200 and lower so accommodate this, you know the retest is more important than the break out.
Summary
US markets reacted at their resistance levels 12500 and 1300 Dow / SP but looking at their reaction patterns, they seem to be in three waves down, corrective, is this is the case then we can expect them to climb higher above there resistances.
Positive moves in base and precious metals, which is a positive for the AUDUSD / Materials sector and ASX
I think some of the US banks are reporting tonight so this could be the catalyst for the retest of US resistances… but please check that.
The Shanghai low that we talked about yesterday is still positive, but would really take about a week to develop, but all the same its positive and this is one of the ASX drivers
Weekly Cycle; The Thursday was lower and lower on volume, which is the catalyst for higher price today and if Friday’s closing is strong with confirming volume, then Monday will be a bull day. Trading the cycle is to scale in on Thursday afternoon if you see low volume and then continue to scale in on Friday morning and if you see Friday afternoon closing strong on confirming volume then you would add to longs, if you see the UK rolling over south then you can short that market to hedge ASX trades and also set up USA Robo trades to hedge ASX trades.
Day Trading Technical Analysis Elliott Wave Trading Strategies Trading Education
Trading Quote
If the losses don’t hurt, your financial survival is tenuous.
Today's Financial Events
Time Currency Detail Forecast Previous
10:50am JPY M2 Money Stock y/y 3.1% 3.0%
8:30pm GBP PPI Input m/m 0.1% 0.1%
8:30pm GBP PPI Output m/m 0.1% 0.2%
9:00pm EUR Trade Balance 0.7B 0.3B
12:30am CAD Trade Balance -0.4B -0.9B
12:30am USD Trade Balance -44.6B -43.5B
12:30am USD Import Prices m/m 0.0% 0.7%
1:55am USD Prelim UoM Consumer Sentiment 70.8 69.9
1:55am USD Prelim UoM Inflation Expectations 3.1%
3:10am USD FOMC Member Duke Speaks
NOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.
Showing posts with label Elliott Wave Count. Show all posts
Showing posts with label Elliott Wave Count. Show all posts
Sunday, 15 January 2012
Friday, 23 December 2011
Elliott wave
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Click Elliott wave to watch video on youtube:- http://youtu.be/m9l1MmOJIto
Elliott wave
Dow Jones 12,087 +2.73%
Base Metals Positive
US Gold CFD: 1630
Oil WTI CFD: 97.30
Copper CFD: 336
US Dollar CFD: 80.20
EURUSD 1.3080
AUDUSD 1.0070
Dow Jones CFD 12,075
S&P500 CFD: 1238
FTSE 100 CFD: 5428
SPI CFD 4080
CFD Commodities
US Gold CFD: 1630
The move above 1600 helps clear up structure and target to the 38.2% at 1630 of course take this target with a pick of salt, lets allow the wave c of (iv) play out the wave c will have five wavesSliver has not made a new high and is likely to stay under the 30.00 TL3, this also make silver weaker but we knew this already and is the preferred shortOil WTI CFD: 97.30
Stocks and commodities are in their later stages of rally, there is more upside that should complete next session. The supply zone here is the MinorLevel 98.00 and the 61.8% retracement of the last trend, the 96.50 can develop as the interim support. Day trader can also work with 97.20 and 97.72Base Metals
US Spot Prices (in l/b)
US Copper: Last: 3.34+
US Nickel: Last: 8.46+
US Zinc: Last: 0.84+
US Aluminium Last: 0.88+Copper CFD: 336
The 61.8% retracement level is up near the 350 and we have to consider this as support has developed on 330 the top of Group1. We can see from the US Indices that there is more upside to play out the structures are two thirds completed and all of these markets are moving together, so copper should complete its rally between the 340 and 350 a guess would be 344 the pattern is an abc corrective rally and the price is in wave c which has five waves and within that it’s at the top of iiiForex
US dollar sharply lower across the board, as stocks drift higher as Housing Starts rise much higher than expected, up 9.3% in November. Many pairs are approaching their critical levels on the 4h charts; Usd/Chf lower, Cable higher and so on..... All eyes on the Aud/Usd now for even higher levels, as S&P shows more and more evidences of a low. A bullish close on the Wall Street today will be a confirmation.
US Dollar CFD: 80.20
The first high above the level (above 80) is in place, this is part of the bigger picture unfolding, the move down from the high above 81.00 is part of the corrective pattern and we have to work out what types of pattern and size. The first thing we can look at is the short term and we can look to the US Indices, we can track the wave count up for the DJ and SP to get some idea of what will happen here. Current he price is sitting above 80 but the time this session is over the price will probably break this support and move lower, the current move down firstly needs to be understood as five wave or three waves, if we get five waves down then after a abc rally there will be another five waves down making a larger ABC down a 5-3-5 Zigzag Elliott wave pattern. For the end of this session the price will stick to 80 and edge down, we will look at the wave structure so far in the video and trading any currency you could also use what is occurring here around 80 and the US Indices to get a feel for the market
EURUSD 1.3080
TradingLevels: From a tradinglevels perspective the current pattern at 131 is an ‘Overshoot’ pattern, simply meaning the price did not react a 131 on arrival it over shot it and the distance it overshot is the distance it will roughly fall back this is normally the first of more swings and the point being is that once it stops swinging and finds the 131 as support or resistance is where you pick up the direction, the swings will diminish into 131. The Elliott wave has an ending structure just above the 131, however you can use the tradinglevels to confirm and position your trades in a much safer way, it is nice to have the Elliott and the levels in the same direction, however when it comes to putting money down you are safer working off the levels as support or resistance because you are working with the volume and the psychology
Elliott Wave: Wave (iv) should be completed now above the 131 however the US Indices have further to push up…
Trading Strategies: if you were long on the 13030 SG1 then you have caught the trend up, but you would have also scaled out at SG2 and 131… and now waiting to see if the Wave (iv) is completed or is there further upside, either way you would monitor the unfolding price action across 131 to develop as support or resistance, if it is support then use SG1 if its resistance use SG2AUDUSD 1.0070
TradingLevels: expect to see a series of wave fours and fives play out across 1.01 today
Elliott Wave: counting an impulse wave up, I will outline this on the 5 minute chart in the video. The larger degree of Wave (D) of IV can be completed but let’s first see if the move up develops as a larger impulse wave or corrective, the main point is to trade the current structure up
Trading Strategy: A very clear impulse structure has emerged, once you understand the pattern and the levels you can trade with it, I will outline the path in the videoIndices
Dow Jones CFD 12,075
Technical Analysis
TradingLevels: The price work across both sides of 12,100 which is also the 61.8% retracement level of the move down from the 9th Dec, the Dow can rally higher to 12,200 as the Elliott wave structure up is suggesting, the SP500 resistance is 1250 a 72% rally if this becomes support then we have a larger structure up
Elliott Wave: The bounce of 1,200 for the SP500 came in on cue which in turn is the 11,800 for the Dow, we can work out the internal structure up but what does need confirming is working out is it a corrective rally or will new highs be made to 12500+. As you know we are working both wave counts bullish and bearish, I know this is not helpful as such, but we really do have to sit and wait for clarity in the structure
Trading Strategy: If your long above 11,772 then well done and wait for the price pattern to unfold at 12,100 that should be the top of a wave three so a wave four across 12,100 with another push higher into 12172. Locking is some profit here at 12,100 is sensible.S&P500 CFD: 1238
TradingLevels: Well the rally sure did come in quick based of US housing data, the current price 1235 is at the 50% retracement level of the Dec 9 drop, it can fail from here, but we should expect a little more upside to 1250, however, support must be found on top of SG1 1230 before 1250 can be viewed. Another point is that all the supply (sellers) start above 1230 so what you have seen over night is not what you’re going to get now, if the market is going to move up it will creep and short trades can be looked for soon
Wave count: Working the two structures still until the medium pattern becomes clear, the move up can be a corrective rally or wave 1 of a larger five wave structure, so keep all trading in the sublevels
Trading Strategies: expecting a move down to 1230 as wave four then a push higher for wave five, the resistance is 1250 these are sublevels, there are MicroLevels if your day trading.FTSE 100 CFD: 54.28
TradingLevels: The rally up has been quite strong but it has not rally as far as the US indices in relationship to the last highs in early Dec.
Elliott Wave: The rally up is developing into an impulse wave (five waves) the current prices are near the top of wave three, you should be able to count this up, so wave four and five to go then a corrective pattern down abc?
Day Trading Strategies: day trading the sublevels with the understanding of the wave count
SPI CFD 4080
Technical Analysis
TradingLevels: The FSTE and the SPI have not rallied as far as the US Indices, that is the relationship to the previous highs, not that this is a big deal, it just points out the weakness of the FSTE and the SPI markets.
Elliott Wave: The Triangle pattern mentioned yesterday and the supporting trendline seem to be in tune with the bounce off the SP500 1200 61.8% support. The current move up is developing nicely as an impulse wave and should the SPI should move to 4150 where the resistance basically starts
Day Trading Strategies: The SG2 {4065|4072|4080} played out nicely. The SG1 of 4100 {4110|4120|4130} will try and hold the price to 4100, if the price finds support on top of SG1 4130 then you can trade to the Midpoint 4150 exit and wait for support to move back in.Summary
Nice intraday impulse wave up across markets,, the move was off the 1,200 61.8% retracement level of the SP500 the catalyst news was the US house stats. The impulse wave up in most cases in just over two thirds complete.
The unanswered question is still the medium term view or the Minor Wave within the Elliott structure about the market being bullish or bearish.
The Bullish structure would count like this; the impulse wave last night that is not completed yet would make wave (i) of a larger five wave structure up, which would take the Dow above 12,500…
The Bearish structure would keep the current December highs in place.Weekly bullish cycle can see Wednesday with the weekly high or rather its Thursday that Gaps open then trades down for the day, creating the weekly high. The Wednesday is more of a V shape trading day with higher close.
Trading QuoteTechnical Analysis is the religion of trading - TradingLounge
Today's Financial Events
Time Currency Detail Forecast Previous
8:45am NZD Current Account -0.92B
8:45am NZD Visitor Arrivals m/m -7.8%
10:30am AUD MI Leading Index m/m -0.3%
10:50am JPY Trade Balance -0.28T -0.46T
1:00pm NZD Credit Card Spending y/y 7.9%
Tentative JPY Monetary Policy Statement
Tentative JPY Overnight Call Rate <0.10% <0.10%
Tentative JPY BOJ Press Conference
6:00pm EUR German Import Prices m/m 0.6% -0.3%
Tentative EUR Italian Prelim GDP q/q 0.0% 0.3%
8:30pm GBP MPC Meeting Minutes 0-0-9 0-0-9
8:30pm GBP Public Sector Net Borrowing 13.5B 3.4B
12:30am CAD Core Retail Sales m/m 0.4% 0.5%
12:30am CAD Retail Sales m/m 0.4% 1.0%
1:00am EUR Belgium NBB Business Climate -11.1 -12.2
2:00am EUR Consumer Confidence -21 -20
2:00am USD Existing Home Sales 5.04M 4.97M
2:30am USD Crude Oil Inventories -1.9M
Tentative USD Treasury Currency Report
NOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.
Free Stuff on Technical Analysis is available on TradingLounge.com.au site!
Click Elliott wave to watch video on youtube:- http://youtu.be/m9l1MmOJIto
Elliott wave
Dow Jones 12,087 +2.73%
Base Metals Positive
US Gold CFD: 1630
Oil WTI CFD: 97.30
Copper CFD: 336
US Dollar CFD: 80.20
EURUSD 1.3080
AUDUSD 1.0070
Dow Jones CFD 12,075
S&P500 CFD: 1238
FTSE 100 CFD: 5428
SPI CFD 4080
CFD Commodities
US Gold CFD: 1630
The move above 1600 helps clear up structure and target to the 38.2% at 1630 of course take this target with a pick of salt, lets allow the wave c of (iv) play out the wave c will have five wavesSliver has not made a new high and is likely to stay under the 30.00 TL3, this also make silver weaker but we knew this already and is the preferred shortOil WTI CFD: 97.30
Stocks and commodities are in their later stages of rally, there is more upside that should complete next session. The supply zone here is the MinorLevel 98.00 and the 61.8% retracement of the last trend, the 96.50 can develop as the interim support. Day trader can also work with 97.20 and 97.72Base Metals
US Spot Prices (in l/b)
US Copper: Last: 3.34+
US Nickel: Last: 8.46+
US Zinc: Last: 0.84+
US Aluminium Last: 0.88+Copper CFD: 336
The 61.8% retracement level is up near the 350 and we have to consider this as support has developed on 330 the top of Group1. We can see from the US Indices that there is more upside to play out the structures are two thirds completed and all of these markets are moving together, so copper should complete its rally between the 340 and 350 a guess would be 344 the pattern is an abc corrective rally and the price is in wave c which has five waves and within that it’s at the top of iiiForex
US dollar sharply lower across the board, as stocks drift higher as Housing Starts rise much higher than expected, up 9.3% in November. Many pairs are approaching their critical levels on the 4h charts; Usd/Chf lower, Cable higher and so on..... All eyes on the Aud/Usd now for even higher levels, as S&P shows more and more evidences of a low. A bullish close on the Wall Street today will be a confirmation.
US Dollar CFD: 80.20
The first high above the level (above 80) is in place, this is part of the bigger picture unfolding, the move down from the high above 81.00 is part of the corrective pattern and we have to work out what types of pattern and size. The first thing we can look at is the short term and we can look to the US Indices, we can track the wave count up for the DJ and SP to get some idea of what will happen here. Current he price is sitting above 80 but the time this session is over the price will probably break this support and move lower, the current move down firstly needs to be understood as five wave or three waves, if we get five waves down then after a abc rally there will be another five waves down making a larger ABC down a 5-3-5 Zigzag Elliott wave pattern. For the end of this session the price will stick to 80 and edge down, we will look at the wave structure so far in the video and trading any currency you could also use what is occurring here around 80 and the US Indices to get a feel for the market
EURUSD 1.3080
TradingLevels: From a tradinglevels perspective the current pattern at 131 is an ‘Overshoot’ pattern, simply meaning the price did not react a 131 on arrival it over shot it and the distance it overshot is the distance it will roughly fall back this is normally the first of more swings and the point being is that once it stops swinging and finds the 131 as support or resistance is where you pick up the direction, the swings will diminish into 131. The Elliott wave has an ending structure just above the 131, however you can use the tradinglevels to confirm and position your trades in a much safer way, it is nice to have the Elliott and the levels in the same direction, however when it comes to putting money down you are safer working off the levels as support or resistance because you are working with the volume and the psychology
Elliott Wave: Wave (iv) should be completed now above the 131 however the US Indices have further to push up…
Trading Strategies: if you were long on the 13030 SG1 then you have caught the trend up, but you would have also scaled out at SG2 and 131… and now waiting to see if the Wave (iv) is completed or is there further upside, either way you would monitor the unfolding price action across 131 to develop as support or resistance, if it is support then use SG1 if its resistance use SG2AUDUSD 1.0070
TradingLevels: expect to see a series of wave fours and fives play out across 1.01 today
Elliott Wave: counting an impulse wave up, I will outline this on the 5 minute chart in the video. The larger degree of Wave (D) of IV can be completed but let’s first see if the move up develops as a larger impulse wave or corrective, the main point is to trade the current structure up
Trading Strategy: A very clear impulse structure has emerged, once you understand the pattern and the levels you can trade with it, I will outline the path in the videoIndices
Dow Jones CFD 12,075
Technical Analysis
TradingLevels: The price work across both sides of 12,100 which is also the 61.8% retracement level of the move down from the 9th Dec, the Dow can rally higher to 12,200 as the Elliott wave structure up is suggesting, the SP500 resistance is 1250 a 72% rally if this becomes support then we have a larger structure up
Elliott Wave: The bounce of 1,200 for the SP500 came in on cue which in turn is the 11,800 for the Dow, we can work out the internal structure up but what does need confirming is working out is it a corrective rally or will new highs be made to 12500+. As you know we are working both wave counts bullish and bearish, I know this is not helpful as such, but we really do have to sit and wait for clarity in the structure
Trading Strategy: If your long above 11,772 then well done and wait for the price pattern to unfold at 12,100 that should be the top of a wave three so a wave four across 12,100 with another push higher into 12172. Locking is some profit here at 12,100 is sensible.S&P500 CFD: 1238
TradingLevels: Well the rally sure did come in quick based of US housing data, the current price 1235 is at the 50% retracement level of the Dec 9 drop, it can fail from here, but we should expect a little more upside to 1250, however, support must be found on top of SG1 1230 before 1250 can be viewed. Another point is that all the supply (sellers) start above 1230 so what you have seen over night is not what you’re going to get now, if the market is going to move up it will creep and short trades can be looked for soon
Wave count: Working the two structures still until the medium pattern becomes clear, the move up can be a corrective rally or wave 1 of a larger five wave structure, so keep all trading in the sublevels
Trading Strategies: expecting a move down to 1230 as wave four then a push higher for wave five, the resistance is 1250 these are sublevels, there are MicroLevels if your day trading.FTSE 100 CFD: 54.28
TradingLevels: The rally up has been quite strong but it has not rally as far as the US indices in relationship to the last highs in early Dec.
Elliott Wave: The rally up is developing into an impulse wave (five waves) the current prices are near the top of wave three, you should be able to count this up, so wave four and five to go then a corrective pattern down abc?
Day Trading Strategies: day trading the sublevels with the understanding of the wave count
SPI CFD 4080
Technical Analysis
TradingLevels: The FSTE and the SPI have not rallied as far as the US Indices, that is the relationship to the previous highs, not that this is a big deal, it just points out the weakness of the FSTE and the SPI markets.
Elliott Wave: The Triangle pattern mentioned yesterday and the supporting trendline seem to be in tune with the bounce off the SP500 1200 61.8% support. The current move up is developing nicely as an impulse wave and should the SPI should move to 4150 where the resistance basically starts
Day Trading Strategies: The SG2 {4065|4072|4080} played out nicely. The SG1 of 4100 {4110|4120|4130} will try and hold the price to 4100, if the price finds support on top of SG1 4130 then you can trade to the Midpoint 4150 exit and wait for support to move back in.Summary
Nice intraday impulse wave up across markets,, the move was off the 1,200 61.8% retracement level of the SP500 the catalyst news was the US house stats. The impulse wave up in most cases in just over two thirds complete.
The unanswered question is still the medium term view or the Minor Wave within the Elliott structure about the market being bullish or bearish.
The Bullish structure would count like this; the impulse wave last night that is not completed yet would make wave (i) of a larger five wave structure up, which would take the Dow above 12,500…
The Bearish structure would keep the current December highs in place.Weekly bullish cycle can see Wednesday with the weekly high or rather its Thursday that Gaps open then trades down for the day, creating the weekly high. The Wednesday is more of a V shape trading day with higher close.
Trading QuoteTechnical Analysis is the religion of trading - TradingLounge
Today's Financial Events
Time Currency Detail Forecast Previous
8:45am NZD Current Account -0.92B
8:45am NZD Visitor Arrivals m/m -7.8%
10:30am AUD MI Leading Index m/m -0.3%
10:50am JPY Trade Balance -0.28T -0.46T
1:00pm NZD Credit Card Spending y/y 7.9%
Tentative JPY Monetary Policy Statement
Tentative JPY Overnight Call Rate <0.10% <0.10%
Tentative JPY BOJ Press Conference
6:00pm EUR German Import Prices m/m 0.6% -0.3%
Tentative EUR Italian Prelim GDP q/q 0.0% 0.3%
8:30pm GBP MPC Meeting Minutes 0-0-9 0-0-9
8:30pm GBP Public Sector Net Borrowing 13.5B 3.4B
12:30am CAD Core Retail Sales m/m 0.4% 0.5%
12:30am CAD Retail Sales m/m 0.4% 1.0%
1:00am EUR Belgium NBB Business Climate -11.1 -12.2
2:00am EUR Consumer Confidence -21 -20
2:00am USD Existing Home Sales 5.04M 4.97M
2:30am USD Crude Oil Inventories -1.9M
Tentative USD Treasury Currency Report
NOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.
Free Stuff on Technical Analysis is available on TradingLounge.com.au site!
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