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Elliott Wave :: Intermediate and Long Term Swing Trading
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Eventually, all bull markets will see significant corrections of price gains. During the last secular bull market from 1982-2000, SPX saw corrections of 14.18%, 35.94%, 20.36% and 24.51% on its way to a gain of 1419%.
Even the terrifying 1987 crash was nothing but a correction in a perfectly trending long term bull market.
In my view SPX and US equities in general are in the process of finishing a bull wave that started in November 2012. It is possible that the bull wave can see a significant extension from current levels before it completes, but analysis tends to support limited upside and substantial downside risk going forward. When equally viable Elliott Wave counts compete, the technician needs to examine the technicals, liquidity, sentiment and psychology of the market to see which count is better supported by underlying conditions. In my view there is substantially more evidence to support a correction than there is to support a bullish extension at this time. For this picture to change, we would need to see a fairly immediate and aggressive bull breakout move at the outset of 2015. Failing that, if we see a continuation of last week's selling, it is likely that a sizable correction will be nearby.
The indian market surprisingly off the day such deeply negative start can turn into boring, range bound session as the the RBI policy has come and gone and markets have stabilized.
During The day the sensex touches new high after the RBI beat expectations to cut benchmark policy rate by 50 basis points, providing a potential to counter rallied nearly 500 points from day's low on Tuesday at the end traded 162 points, or 0.63 per cent, higher at 25,778.66 while the 50-stock…Continue
Indian Share Market Still continued its bearish trend and are trading down in early session today.the sensex and nifty off the day high had been riding on the downward trend with huge volatility.
The market is behaving a bit risk off way awaited US Federal Reserve interest rate decision which emerge at September 16-17.
The major index perform lower during all the session was negative, as with Sensex closed 150.77 points, or 0.58 per cent, lower at 25,705.92 and Nifty…Continue
Indian Share Market attempted to reclaim lost territory has taken another big hit losing more than 2 percent in a broad-based selloff. The banchmark indices falling heavilly as the Sensex plunged 2.23 per cent, or 586.65 points, to 25696.44 and The Nifty drop 2.33 percent or 185.45 point to 7785.85.…Continue
The Indain Share Market ends a highly volatile recovery session after yesterday’s amazing sell off. the market staged a dramatic comeback on Monday.
The reason for this relief is some strength in Indian Rupee that is trading slightly positive against USD.
The Sensex has trimmed its earlier gains and ends the day 291 points higher at 26,032. Nifty climbed 72 points to close at 7,881.Tata Motors and Reliance Industries extended rally, up 7 percent and 3…Continue
The home-builder stocks have been coming under some selling pressure since the start of April. Many talking heads in the financial media are now calling the sector run as being over. Most traders…Continue
This morning, leading off-price apparel and home fashions retailer The TJX Companies Inc (NYSE:TJX) is declining lower after reporting earnings. The TJX Companies Inc operates its stores under the…Continue
The iShares Dow Jones Transport. Avg. (NYSEARCA:IYT) has continue to rally to new all-time highs in recent days. Even today, with the market under pressure, transports are higher. Why? Simply put,…Continue
Just a couple months ago, Janet Yellen issued a warning that biotechnology may be in a bubble. Today, the iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) are 20% higher. While Janet Yellen was…Continue