the ELLIOTT WAVE lives on

weekend update

weekend update

REVIEW The market started the week at SPX 2177. After a quiet session Monday the market inched up to SPX 2279 by Tuesday. Then Wednesday and Thursday the SPX declined to 2254. After that low the market rallied back to SPX 2279 on Friday and ended the week at 2275. For the week the SPX/DOW […]

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Friday update

Friday update

SHORT TERM: higher open rally stalls, DOW -5 Overnight the Asian markets gained 0.4%. Europe opened higher and gained 0.9%. US index futures were higher overnight. At 8:30 the PPI was reported higher: 0.3% v 0.4%, and retail sales were reported higher: 0.6% v 0.1%. The market opened 5 points above yesterday’s SPX 2270 close, […]

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Thursday update

Thursday update

SHORT TERM: choppy activity continues, DOW -63 Overnight the Asian markets lost 0.5%. Europe opened lower and lost 0.5% as well. US index futures were lower overnight too. At 8:30 weekly jobless claims were reported higher: 247K v 235K, and export (0.4% v 0.2%)/import prices (-0.2% v -0.1%) were reported mixed. The market opened 7 points […]

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Wednesday update

Wednesday update

SHORT TERM: choppy activity continues, DOW +99 Overnight the Asian markets gained 0.7%. Europe opened lower but gained 0.3%. US index futures were relatively flat overnight and the SPX opened 1 point below yesterday’s 2269 close. Right after the open the market rose to SPX 2275 just before 11am. Then the market started to selloff when Trump made […]

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Tuesday update

Tuesday update

SHORT TERM: choppy day, DOW -32 Overnight the Asian markets gained 0.2%. Europe opened higher and gained 0.2% as well. US index futures were slightly lower overnight, and the market opened 2 points below yesterday’s SPX 2269 close. By 10am, when wholesale inventories were reported higher: 1.0% v -0.4%, the SPX hit 2265 and started […]

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Monday update

Monday update

SHORT TERM: pullback/consolidation, DOW -76 Overnight the Asian markets gained 0.1%. Europe opened lower and lost 0.1%. US index futures were lower overnight, and the SPX opened 3 points below Friday’s 2277 close. In the opening minutes the SPX dropped to 2269, then rallied to 2275 by 11:30. Then it started to drift back down […]

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weekend update

weekend update

REVIEW The week started on Tuesday at SPX 2239. The market gapped up to start the week, hit SPX 2264, sold off to 2245, then gapped up on Wednesday to hit 2273. Thursday the market pulled back to SPX 2260. Then on Friday the SPX made all-time new highs at 2282. For the week the […]

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OEW tutoring

OEW tutoring

All markets are driven by long term investor psychology cycles. When the cycle is positive a bull market unfolds, when negative a bear market. The Objective Elliott Wave (OEW) technique not only determines if a market is bullish or bearish, it also determines how far a market has progressed in its current cycle. OEW is […]

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Friday update

Friday update

SHORT TERM: new all-time highs, DOW +65 Overnight the Asian markets lost 0.2%. Europe opened lower but gained 0.2%. US index futures were higher overnight. At 8:30 monthly payrolls were reported lower: 156K v 178K, unemployment was reported higher: 4.7% v 4.6%, and the trade deficit was reported wider: -$45.2B v -$42.6B. The market opened […]

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Thursday update

Thursday update

SHORT TERM: pullback/consolidation day, DOW -43 Overnight the Asian markets gained 0.7%. Europe opened lower but ended flat. US index futures were lower overnight. At 8:15 the ADP was reported lower: 153K v 216K, and at 8:30 weekly jobless claims were reported near 1973 lows: 235K v 265K. The market opened 4 points below yesterday’s […]

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Wednesday update

Wednesday update

SHORT TERM: another gap up opening, DOW +60 Overnight the Asian markets were mixed, but Japan rose 2.5%. Europe opened higher and gained 0.1%. US index futures were higher overnight, and before the open monthly auto sales were reported higher. The market gapped up at the open to SPX 2266, ticked up to 2268, then pulled […]

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Tuesday update

Tuesday update

SHORT TERM: gap up opening starts 2017, DOW +119 Overnight the Asian markets gained 0.3%. Europe opened higher and gained 0.3% as well. US index futures were much higher overnight, and the market gapped up at the open to SPX 2256. The SPX had closed at 2239 on Friday. At 10am Construction spending was reported […]

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weekend update

weekend update

REVIEW The market started the week at SPX 2264. On Tuesday the market rallied to SPX 2274 in the opening minutes and then started to pullback. The pullback lasted all week, with one 9 point rally along the way, and hit SPX 2234 on Friday before bouncing to end the week at 2239. For the week the SPX/DOW […]

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Friday update

Friday update

SHORT TERM: pullback continues, DOW -57 Overnight the Asian markets gained 0.6%. Europe opened lower but gained 0.4%. US index futures were higher overnight, and the market opened at SPX 2254 then immediately started to pullback. At 9:45 the Chicago PMI was reported lower: 54.6 v 57.6. The pullback continued until 10:30 when the SPX hit […]

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thursday update

thursday update

SHORT TERM: pullback continues, DOW -14 Overnight the Asian markets lost 0.1%. Europe opened lower and lost 0.1% as well. US index futures were slightly higher overnight. At 8:30 weekly jobless claims were reported lower: 265K v 275K, and the trade deficit was reported higher: -$65.3B v -$62.0B. The market opened 3 points above yesterday’s […]

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Wednesday update

Wednesday update

SHORT TERM: slightly higher open then decline, DOW -111 Overnight the Asian markets gained 0.3%. Europe opened lower but gained 0.2%. US index futures were slightly higher overnight, and the market opened two points above yesterday’s SPX 2269 close. Right after the open the market started to pullback. At 10am pending home sales were reported […]

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Tuesday update

Tuesday update

SHORT TERM: higher open then sideways, DOW +11 Overnight Asian markets gained 0.4%. Europe opened higher and gained 0.1%. US index futures were slightly higher overnight, and the SPX opened three points above Friday’s SPX 2264 close. At 9am Case-Shiller was reported higher: +5.6% v +5.4%. In the opening minutes the SPX hit 2274 and […]

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weekend update

weekend update

REVIEW Another quiet week as the market did not make much progress either up or down from SPX 2258 where it started the week. The market rallied on Monday/Tuesday to SPX 2273, then drifted lower for the rest of the week, and closed at SPX 2264. For the week the SPX/DOW gained 0.35%, and the NDX/NAZ gained […]

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Friday update

Friday update

SHORT TERM: total daily SPX range 5 points, DOW +15 Overnight the Asian markets open lost 0.1%. Europe opened higher but finished mixed. US index futures were flat overnight and the market opened one point below yesterday’s SPX 2261 close. By 10am the market had bounced to SPX 2263. Then consumer sentiment was reported higher: 98.2 v 98.0, […]

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Thursday update

Thursday update

SHORT TERM: yesterday’s pullback continues, DOW -23 Overnight the Asian markets lost 0.6%. Europe opened lower but gained 0.1%. US index futures were lower overnight. At 8:30 Q3 GDP was reported higher: 3.5% v 3.2%, weekly jobless claims were reported higher: 275K v 254K, and durable goods orders were reported lower: -4.6% v 4.8%. The […]

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