SPX - Correction in uptrend

Preferred scenario: wave (ii) of 5 of [3] ;
first alternate: Alt:(i)/(a) of Alt:a/w of Alt:[4]

ElwaveSurfer

SPX - Slightly bullish

At the end the preferred scenario (bullish) seems confirmed; the up-wave in progress appears the (i) of 5 of [3] .

However, there is a risk that wave 5 is an ending diagonal ...

STOCK PORTFOLIO: FB and ALXN (bought Tuesday @ 166)  rise well .

ElwaveSurfer

SPX - Still in sideways

Preferred count: it's hard to say if the market is still in triangular wave 4 or if  wave 4 in flat form is already ended.
The next alternate count is bearish (the top is wave 5 of [3] so we are in corrective wave [4] )

With ACT, ALXN, AMBA, FB, UA that I've showed yesterday, others interesting leaders stock are:

 

I look also NFLX.

 

 

US STOCK PORTFOLIO:

 

Yesterday long FB @ 68.60 (half position)

 

ElwaveSurfer

US stock indexes: short and medium term perspective

In the last post I described the preferred long-term scenario of DJIA;
below, the medium and short term scenarios for main US stock indexes ;

NDX and SPX appear still in bullish mode after a temporary correction.

DJIA

Already in topping; possible ending diagonal.

 NDX
 

in wave 2 minute of 5 minor of (c) intermediate

of [Y] Primary of X CYCLE

 

 SPX

wave 4 sub-minuette of [3] minuette of c minute of y minor

of (y) intermediate of [Y] primary of X CYCLE

Given that the market is still in uptrend,

I prefer to set only long positions , although with caution

(new purchases will be smaller than normal , no margin,

focus on leaders with sound bases of at least 3/4 weeks)

 

 US leading stocks 

with high IBD rating

and interesting chart patterns
(bullish setup)

Have a great trading day and week, with care!

ElwaveSurfer

DJIA: close to the CYCLE TOP

With reference to the Long term count that this blog has always considered like the preferred scenario, we are close to the TOP (even if SPX and NDX still appear to have a small space to rise).

In the Monday's post the short term count of US indexes.

Have a nice weekend !

ElwaveSurfer