SPX - Darkness pattern

The market does not show a convincing power to go up;
the feeling that the count is wrong increases, but I'm still looking for a credible alternative.

These are difficult times, and it is better to wait outside.

Have a great trading day... with care!

ElwaveSurfer

SPX - Last call for the bounce

Yesterday was the bottom b/x ?
Even if wave (y) = wave (w) , I have many doubts...
I think that the alternate count (bearish) will prevail.

Have a great trading day...with care!

ElwaveSurfer

SPX - Immediate rebound or new bottom

SPX shows weakness;

on intraday basis, or the preferred count (bottom b/x of [a]/[w] of y) prevails today, or it will be replaced by the first alternate (Alt:[z] of Alt:x still in progress).

Have a great trading day ... with care!

ElwaveSurfer

SPX - Triangle pattern

It seems to be forming a triangle pattern.
Preferred count (bullish): close to wave c/y of [a]/[w]
Alternate count (bearish): a Neely's reversal triangle in Alt:(b) is ending, so a down move in Alt:(c) of Alt:ii/b will start.

Have a great trading day .. with care!

ElwaveSurfer

Elliott Wave Analysis of several Stock Market Index

 

My short-term outlook, for this week, is bullish.

DJIA
in the best of cases, wave 3 minute of c minor of (y) intermediate.

First alternate scenario: Alt:5 ;

Second alternate scenario: the top was wave Alt:a , so now we are in Alt:b minor wave; if this view prevails the correction will be larger in terms of time and/or price.

NASDAQ: wave [ii] is over; we should be in wave [iii] of 3 minute of 5 minor

  

GERMAN DAX : wave x minor of (z) intermediate is over?

  

LONDON FTSE 100: if wave 2 minor of (3) intermediate is not over, a new Cycle bear market could be started.

ZURICH SMI - wave a of wave (4) intermediate is finished and wave b has started.

TOKYO NIKKEI
Preferred count:  wave 4 minor of (c) intermediate;
Alternate count: we are in a new bearish wave of Primary degree.

SPX intraday update

Pullback, as expected.

Preferred count (bullish): we are in wave iii/c of [a]/[w] of y of z minor.

Have a great trading day ... with care!

ElwaveSurfer

SPX - Rebound or new upward wave?

As described in yesterday's post, the market has had the reaction expected from 1595 to 1600.

Now the real questions are:

wave x is over so a new upward wave is started?

or this is simply a rebound from an oversold's situation , due to the touch of uptrendline / MA50d ?

The first hypothesis requires, at least, the breakout @ 1646.

Today important job's report.

Have a great trading day ... with care!

ElwaveSurfer

 

SPX - Close to a bullish reaction

As expected from the preferred scenario, the downward move is continued even if it will become invalidated if this wave fall below 1595-1600 (and now, the first alternate count is the worst possibile).

 

I'm waiting for the end of the correction.

Have a great trading day ... with care!

ElwaveSurfer

SPX - Complex correction

The intraday top labelled in the yesterday's post like wave 2 , was confirmed but has changed in wave x because the downward move of the last session it is more difficult that could be qualified as impulsive pattern.

So the new counts become:

Preferred (bearish): we are in wave y of [y]

Alternate (bullish): the correction is over and the uptrend resumes.

Have a great trading day...with care!

ElwaveSurfer

SPX - Contrasted scenarios

The upward end of the yesterday's session give precedence to alternative scenario but requires a recount and there is also the possibility that yesterday's low is the end of the correction.

 

Main count: we are in wave 2 of [c] of x ; the correction is still in progress.

First alternate count: the bottom @ 1623 is the end of wave Alt:[c] and of wave Alt:x , so the uptrend resumes.

Have a great trading day ... with care!

ElwaveSurfer

Elliott Wave Analysis of several Stock Market Indexes

Referring the main world Stock Market Indexes, my outlook remains bearish on the short-term time frame.

DJIA:

in the best of cases, we are still in wave 2 minute of c minor of (y) intermediate.

First alternate scenario: Alt:4 ;

Second alternate scenario: the top was wave Alt:a , so now we are in Alt:b minor wave; if this view prevails the correction will be larger in terms of time and/or price.

NASDAQ: still wave [ii] of 3 minute of 5 minor

GERMAN DAX : hold, but I still think that it is in wave x minor of (z) intermediate

LONDON FTSE 100: wave 2 minor of (3) intermediate or of Alt:(5)

ZURICH SMI - the top was wave (3) intermediate, with a beautiful 1.618 Fibonacci's extension of wave (1) from (2) ; first target between 7500 and 7300 (that is the wave four of minor degree)

TOKYO NIKKEI -  preferred count: the top was wave 3 minor of (c) intermediate; here, the index has reached the maximum of possible target for wave 3, that is 2.618 Fibonacci's external extension of wave 1 from top 1.

 

 

SPX intraday update

 

Hard sell-off in the late Friday's session,  with volume rising.

This confirms my bearish outlook.

Preferred count: we are in wave [c] of x of z minor.

The first alternate is passed; the new alternate: the top was the Cycle reversal.

 

 

 Have a great trading day ... with care!

 

ElwaveSurfer