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Financial Market Technical Analysis
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
The S&P 500 is having a solid rally today on light volume. At this very moment the $SPY (the tracking ETF for the S&P 500) is filling a major gap from May 2nd, 2016. In addition, it is…Continue
Yes, I said it. Markets look like they want to go higher, even as they sit lower by around 1% on the day. Why? Simply put, there are a lot of negatives out there and the markets are overbought, even…Continue
As many traders and investors know, the U.S. Dollar Index (DX) broke out in September 2014. At that time, the U.S. Dollar Index was trading around the $83.00 level. Today, the U.S. Dollar Index is…Continue