Orientation on U.S. Stocks
Short term-BULLISH, Intermediate-BULLISH, Long term-NEUTRAL
Short term-NEUTRAL, Intermediate-BEARISH, Long term-NEUTRAL
10-30 Year Treasury Yields:
Short term-BEARISH Intermediate-BEARISH, Long Term-Neutral
Short term-NEUTRAL, Intermediate-NEUTRAL, Long Term-Neutral
Last Updated: 10-03-22
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Financial Market Technical Analysis
Elliott Wave :: Intermediate and Long Term Swing Trading
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As 2023 begins, the basic analysis that I have held to since May/June still applies. Stocks are in a B-wave movement within the context of a basically sideways corrective pattern and have been since May/June. Crude Oil will continue to correct towards its long term average price support and the 10 year Treasury yield will be managed in a roughly 2% range for the foreseeable future.
Sentiment remains apocalyptic. Everybody still "knows" that stocks must collapse since of course "the economy" is going into a deep recession and stocks "must" reflect GDP.
As I have said many times, all of the old paradigm definitions of "markets", "the economy", "GDP" are either irrelevant or being entirely re-written. Any analysis that tries to link stock performance to old school metrics is going to be confounded...CONTINUE READING
EWT’s Hochberg continues his pathetic gibberish in the guise of wise Buddha like sayings:
’Inertia grips the S&P 500 as today’s 0.39% trading range was the smallest of the year, as shown on the Bloomberg chart above. Low volatility precedes high volatility and inaction leads to action, so expect some wide-ranging days in the not-too-distant future.’
No specificity, no plan or action of how to use this…Continue
Is it a concern when a long term super bear all of a sudden begins calling for new highs? Even when those new highs are part of coming ‘Armageddon’? Because EWT is now calling for that!
Hochberg is now calling for new highs (of course, the odds favor that outcome. The market is in an historic bull advance).
But for about 10 months straight, in the face…Continue
Elliott Wave International: Short and simple
I am not sure they fully understand that for most people, the purpose of the markets is, quite simply, to make money. An indication they might not share your goal (or any trader/investor’s goal) is they never provide practical guidance for trades.
For them, it seems that the more arcane the analysis the better. That seems their purpose. Not making money. In fact, they apparently are so disinterested in making money,…Continue
Elliott Wave Theorist’s Steve Hochberg recently wrote this:“As the bear market progresses, U.S. junk bond yields will eventually resemble China’s junk bond yields as world credit evaporates. The…Continue
Anyone who remotely follows the Prechter Hochberg wealth destruction series is aware that they are religious in their market view. They ‘know’ the true path of the stock market (all markets just as…Continue
There is information below from Sentiment Trader, describing what almost everyone knows: The 2020-2021, 16 month bull market, is one of the largest and sharpest in recent history. In case you do not…Continue
Anyone reading EWT and Prechter and Hochberg?Prechter hides behind one good commodity (but impossible to use ) call 13 years ago or so in 2008, and now makes another shoot for the moon commodity call…Continue