FutureMeDead

FutureMeDead

A 200 Day SMA test looks very likely here. Greater bearish potential exists as exhibited by Fib. Gap in the 3rd wave is also a target. Notice the RSI divergence from the 3rd to 5th wave. Any upside should prove to be a labored affair.

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A measured move to the area surrounding $120 is not out of the question. Greater bearish potential exists.

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Keeping things simple sans wave count. Impulse waves develop in the direction of the larger trend. Multiple impulse waves seen here in the boxes suggest a possible 3rd of 3rd. Initial target is 18.

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To early to see whether to the current rally is a larger 4th wave counter trend bounce or the beginning of an even larger degree 5th wave higher with a target above 1.2091. Right that doesn't matter as they both require a move higher. 2 mini lots established at 1.1709. A new low below 1.1695 and the trade is wrong. 1.18 in short order is not far fetched.

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The A,B,C pattern from the 3000 low can be counted as complete although there is no evidence to suggest a top is in. A small five decline below 4216 would suggest so. Until that happens, wave (v) of ((c)) may decide to subdivide its way to the area surrounding 4500. Notice the difference in the slopes of waves ((a)) and ((c)). The declining momentum of wave ((c))...

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Major Support at 204 (2040 in the S&P)

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Flat corrections have an internal substructure of 3-3-5 (abc). Looking lower below 89.15. AUD decline also supports this view.

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Blue trendline shows what was once support has become resistance. Possible new downward channel.

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Multiple touches.

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This is the PowerShares DB Commodity Index. With more than 40% of the index weighted in different forms of oil (Light, Brent, Heating, and RBOB), it resembles the charts of crude and Brent we follow but with a more bearish elliott wave count. Circle wave iv may be underway (crude is up 2.5% right now) and I have thrown up a cluster of Fibs in order to identify a...

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Notes on chart.

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Short term BABA will likely retrace some of the recent rally as it runs into a confluence of moving averages. Will need to break through SMA Zone before reaching target area.

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The Elliott Wave structure of Boeing from the 158.83 high on February 20, 2015 is clearly not an impulse wave which means it must be viewed in the context of a correction. The structure also counts very nicely as a Double Three labeled WXY. Notice how MACD and RSI show momentum divergence from wave W to Y into the 200-day moving average and bounced from there. The...

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Wave A is textbook impulse wave to the downside. Wave B is underway. A common stopping point would be the extreme of circle wave iv at 1.2409. The 50% retracement comes in just higher at 1.2518. Once wave B is complete, expect another impulse wave down in C to below 1.1100

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5 wave decline with a dragonfly doji in the position of the 5th wave. I am expecting a 3 wave counter trend rally into the green Fib zone. Larger trend is now down. A break of 134.40 invalidates idea.

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The area highlighted in blue is an a, triangle b, c correction. I am hoping that three wave decline is only wave a of a larger ABC. If so, it requires another leg down into the buyzone.

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The correct and wrong ways to count an impulse wave.

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Correction from 1.27787 is a FLAT CORRECTION. I am long from 1.2690 // Stop 1.2665 // Initial Target 1.27993 // 2nd Target 1.2833