November 12th, 2009 by jsfalvo | Comments
Per David Elliott :
Yesterday played out about how we expected.
The DJ-30 hitting out upside trendline target of 10340 area.
And the SP-500 and QQQQ making double tops;
With the IWM, Russell 2000, failing the daily 50 Simple moving average, SMA.
This price action today leads me to believe we have put in another topping action that should send [...]
November 4th, 2009 by jsfalvo | Comments
Per David Elliott :
The market made the expected positive move for the SP-500 and QQQQ, with the DJ-30 closing down just 17 points.
It was mostly a quiet choppy day for the day traders.
I am still very short term, tentative, bullish. As I believe we are in a wave two bounce from the market top we [...]
October 26th, 2009 by jsfalvo | Comments
Per David Elliott :
Friday’s market reversed most of the gains from Thursday.
This candlestick pattern with two large red candles with a green day in the middle usually resolves to the down side at market tops.
I call it the ice cream sandwich candle pattern for down moves.
Again it is important for any market sell-off to see [...]
October 22nd, 2009 by jsfalvo | Comments
Per David Elliott :
Our comments of sellers at yesterday’s highs, was again tested today, and found more sellers, enough to give the DJ-30 a market swing of 176 points from a new DJ high to the low.
This market swing created another Key Reversal signal on the Daily, and a Bear Engulfing pattern on the 2 day charts for [...]
October 22nd, 2009 by jsfalvo | Comments
Per David Elliott :
Our comments of sellers at yesterday’s highs, was again tested today, and found more sellers, enough to give the DJ-30 a market swing of 176 points from a new DJ high to the low.
This market swing created another Key Reversal signal on the Daily, and a Bear Engulfing pattern on the 2 day charts for [...]
October 20th, 2009 by jsfalvo | Comments
Per David Elliott :
Yesterday saw little Index dip moves and a market run starting at 10:00AM.
Our SOAP Sell set-up is still valid with a good market drop, that did not happen today.
AAPL hit our dip target then rallied thru the close to a $20 point swing from the low.
AMZN missed out dip target by a [...]
October 20th, 2009 by jsfalvo | Comments
Per David Elliott :
Yesterday saw little Index dip moves and a market run starting at 10:00AM.
Our SOAP Sell set-up is still valid with a good market drop, that did not happen today.
AAPL hit our dip target then rallied thru the close to a $20 point swing from the low.
AMZN missed out dip target by a [...]
October 8th, 2009 by theequilibrium | Comments
Nightly late-night chart review sessions on twitter and Chart.ly. Follow me on twitter@theEquilibrium.
Goldman Sachs Group, Inc. (NYSE) - weekly- has room to run to 201 on market ramp- ‘overbought’ only a secondary signal
S&P500 Index – monthly- still my grande dame chart– major 20monthSMA battle, and 1080 res. from ‘01 and ‘04
September 26th, 2009 by theequilibrium | Comments
Nightly late-night chart review sessions on twitter and Chart.ly. Follow me on twitter@theEquilibrium.
iShares Russell 2000 Index (ETF) (NYSE) - weekly- target of double bottom at ~70–currently pulling back toward 50% Fib from huge res.@ 62-ish
iShares FTSE/Xinhua China 25 Index (ETF) (NYSE) - weekly- backed off 50% Fib- heading towards bottom of ascending broadening wedge
iShares MSCI Brazil Index (ETF) [...]
September 10th, 2009 by theequilibrium | Comments
Nightly late-night chart review sessions on twitter and Chart.ly. Follow me on twitter@theEquilibrium.
S&P500 Index – weekly- right at Oct. resistance- last key level before range of very low prior volume-inflection pt
S&P500 Index – daily- ascending broadening wedge- closed just below October res- may test top of pattern
Nasdaq Index – weekly- has broken above primary bear market [...]
