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 [...]

Per David Elliott :
MONDAY, NOVEMBER 9TH¡¯S MARKET UPDATE.
Friday I said, My reversal of a bear position, at this time, would be a move over Thursday’s Index highs.
So we made new highs Friday without correcting back to our breakdown targets.
This erased my bear position and made me a bull, until we get a signal ending this [...]

Nightly late-night chart review sessions on twitter and Chart.ly.  Follow me on twitter@theEquilibrium.
S&P500 Index -60 min- range breaks often lead to fast moves- would expect a bounce- possibly finding a lower high
daily- trend lines were made to be broken- lots of support on multiple time frames above July low
S&P500 Index – weekly- H&S target still very [...]

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) [...]

Nightly late-night chart review sessions on twitter and Chart.ly.  Follow me on twitter@theEquilibrium.
S&P 500 Index - monthly- 20 yr chart- testing 200monthSMA- 32.8% Fib at 1085 from ‘91 low-very steep MACD bull cross
NASDAQ Composite Index - NAZ monthly- broke above 200monthSMA- 62.8% Fib from 1991 low at 2160- strong MACD bull cross
US Gasoline Fund ETF (NYSE) – daily-negative [...]

Today’s Market Commentary Wednesday June 17, 2009
I have a quick errand to run this am so I will leave you with David Elliott’s thoughts.
Per David Elliott of www.wallstreetteachers.com :
“Today I am looking for some kind of bounce with our support levels here or nearby.
The McClellan Oscillator T2106 is in an area of giving an up day [...]

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In rather peculiar trading, which saw relatively wide intra-day ranges and yet relatively tight closing prices, the S&P 500 broad market index closed the week of June 8-12 a whopping 8 points, or 0.85% higher.

Just about every good trader I know analyzes and trades using more than 1 time frame. (our theEquilibrium just did a great analysis of Apple on 3 Time Frames).  Whether they’re daytraders or swing traders, using multiple time frames means focusing on the price action you’re waiting to attack but also being aware of the [...]

Today’s Market Commentary Wednesday May 20, 2009
As I look at my technical indicators I have 2 and 3 day Snap Back Up patterns on all the major indicies which indicate to me that our longer term up targets for the markets are still within reach. So today I am looking for a continuation of Monday’s move [...]

Today’s Market Commentary Tuesday May 12, 2009
Well what now, who knows and traders should not care if they are traders because traders trade the tape and take the opportunities the market gives them everyday. Keep it simple and stupid and do not fall into the trap of trying to become a economist to justify your [...]