Elliott Wave Analysis DJIA Dow Jones Industrial Average – update of the uber-bearish count by Sid from ElliottWavePredictions.com
Elliott Wave Analysis DJIA Dow Jones Industrial Average – update of the uber-bearish count by Sid from ElliottWavePredictions.com. Click on the chart twice to enlarge. The wave structure since the May 2 high continues to present bearish, and as the downward movement from that high evolves, I plan to gradually use longer term candles to […]
Elliott Wave Analysis of the Russell 2000 Index by Sid from ElliottWavePredictions.com. Click on the chart twice to enlarge. Here is a daily chart of the Russell 2000 index, showing that yesterday’s session broke and closed below two major trend lines, one connecting the extremes of wave 2 & 4 blue, and the other connecting […]
Elliott Wave Analysis – Russell 2000 Index – Daily Candles. A lesson on how the MACD can assist in developing wave counts . .
Here’s my detailed Elliott Wave count of the Russell 2000 index since the July 6, 2010 low. Notice how the MACD assists in developing the wave counts by pinpointing the wave 3’s along the way. Also notice that each instance of “divergence” between price and the MACD line was immediately followed by a correction. Divergence […]
The EUR/USD currency pair finally got legs today, and broke through a key resistance line at 1.38631 (ask). This is the behavior I’ve been looking for to confirm my long term Elliott Wave count (see http://elliottwavepre.wpengine.com/?p=260). The Euro should not only continue to the upside as I had predicted, it may “prop up” the US stock […]