Dow Jones Futures (YM_F) broke above June 10 high (26289) suggesting that the next leg higher has started. The Index is now showing an incomplete sequence from June 3 low (24610), favoring further upside. Short term Elliott Wave view calls the rally to 26289 on June 10 as wave 1 and pullback to 25898 as wave 2. This indicates that the entire rally from June 3 low...
Stocks received a boost from the more positive wave of
headlines relating to a US-China trade deal. This led to a big
push in the equities markets, before things settled down.
Ranges are likely to hold before tonight's FOMC decision.
The trend is up and continuation breaks are favoured
if we get the dovish FOMC that everyone expects.
Trade AFTER the event -...
Elliott wave view in Dow Jones Futures (YM_F) suggests that the decline to 24604 ended wave ((W)) on June 3. This decline ended the cycle from May 1 high as a 3 waves zigzag Elliott Wave structure. Wave ((X)) bounce is currently in progress to correct the cycle from May 1 high in 3, 7, or 11 swing. The internal of wave ((X)) rally is unfolding as a zigzag Elliott...
As annotated on the chart, weekly pivots combined with volume profile and VWAP bands can give high % entries.
On responsive days, VWAP bands give accurate points of entry for a move back to the current VWAP or POC.
Be wise to the the of day that is developing, and use the appropriate strategy. For example on trend days do not play for responsive moves as...
Risk appetite is once again sour after Trump tweeted
and a Washington Post interview fuelled concerns over
political pressure on the Fed and trade woes anew.
The US President first tweeted that the US is put at a
‘big disadvantage’ as US rates are kept too high while
others are devaluing their currencies, explicitly
mentioning the EUR and CNY.
Elliott Wave view on Dow Jones Future (YM_F) suggests that the sequence from April 24, 2019 high (26694) remains incomplete and Index can see further downside. Short term, the rally to 25720 ended wave ((ii)) and wave ((iii)) ended at 24937. Internal of wave ((iii)) unfolded as Elliott Wave impulse structure. Down from 25720, wave (i) ended at 25592, wave (ii)...
We have completed the wave 3 down I called for and are bouncing from the level called, in previous posts. Now we will go up as high as R1 before potentially descending on a 5th wave down.
If we break the R1 that would be very Bullish. Remember at any point it time the odds are 50/50% of going higher or lower, fact. So you have to see both possibilities.
The very famous chart formation again happen in Dow Futures. The pattern target is eyeing 23842 with conservative projection from left shoulder instead of right shoulder.
However, if price hit 23842, it will be 50% retracement from the previous swing. In a longer term view, S&P 500 have divergence and yet to confirm. In Dow Jones, the head and shoulder pattern...
Short term Elliott Wave view on Dow Jones Future (YM_F) calls for the bounce to 25952 as wave (B). This move higher is a correction to the decline from April 24, 2019 peak.
In order to avoid a double correction in wave (B) and provide validity to this view, Dow Jones Future needs to break below wave ((i)) at 25215. However, technical analysis on US Sectors such...
We are in an ABC wave 2 counter trend reversal IMHO... In the short timeframes the trend is down.
Of course at any given moment the odds are 50/50 but it looks a lot like a setup to go down soon to me.
KD Formerly "Kauai Dave of kauai Daves TrendTraders" over on eSignal and TCNet
I use a lot of different charts if you like this one talk to Mort Diggiddy