Elliott Wave Theory stock market technical analysis. Major U.S. Indexes.
Specializing in QQQ and the DIA analysis and trading. QQQ and DIA Options trading.
Was Wednesday's rally the beginning of the "Santa Clause Rallly?" OR was it just a head fake, relieving short term oversold readings on the RSI and MACD?
Read the notes in this morning's Intra Day update. Note that the indexes are retesting the upper range of the recent trend channel. Again, as noted in today's updates, watch the high of the first 45 minutes of trading.
The preferred Elliott Wave Theory wave count is that the U.S. Equity indexes are in a wave 2. The view that the markets are headed towards new all time highs should be met with a certain level of skepticism. The goal is to use technical analysis to determine the direction of the markets...
The markets have shown some critical techicals this week. Aftter giving some good short term signals recently we are now seeing the set up and targets for further confirmation; this will lead to the mid to longer term trend being confirmed. Also, Crude Oil could ...
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After a four day potential Island Pattern the indexes close at the lower end of the trading range for the Island pattern. Is this the set up for the potential Island Reversal?
The market rallied mid day Wednesday. How much longer will this rally last? Is this current wave 2 almost over? Or perhaps traders should be asking themselves, How low will the markets have to go to bring a 'Santa Claus Rally'?
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