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Dow weekly 2014-08-28

Pattern qualifies as complete but that doesn’t mean it must stop now, can extend if it wishes.

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S&P 500 monthly, weekly 2014-08-28

If only I watched more television, or any, I would know just what a wonderful time it is to be invested and how great the future is and to think otherwise is just being a crackpot. Instead, I study history and it tells me that this is a horrible time to be fully invested.

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S&P 100 (OEX) weekly 2014-08-28

A very bad time to enter a long trade is an understatement.

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S&P Midcap 400 futures weekly 2014-08-28

No structural reason to think that it doesn’t make a new high…

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Friday and weekend schedule

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Just a reminder that phi will be away on Friday. We expect trading to be light, as it’s the day before the long holiday weekend.

Also, we hope to implement some upgrades to the website over the weekend, so there probably won’t be any new market-related posts until shortly before

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Trader Insights – Thursday, Aug. 28

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We are watching for SPX, ES and related indices to put in a minor fourth-wave low, which probably will be completed today. This sets the indices up to attempt new highs next week, although exhaustion signals are building, and upward Elliott wave counts appear close to being finished.

On another

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Shanghai Composite – 2014-08-27

Since the last update of the Shanghai composite, the market has taken the path outlined as the alternate scenario, now brought to the fore as the new main scenario

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Trader Insights – Wednesday, Aug. 27

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It appears that the minor 4th wave correction we were expecting in SPX has begun… On a different front, we have been preparing charts for the next edition of our Market Forecast e-book. Two of the big-picture charts for European indices are shown here.

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Euro Stoxx 50 futures 2014-08-27

Roughly same story as DAX aside from the different very large count, should expect a modest new high.

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Dax futures 2014-08-27

The monthly chart has a bearish look as it has broken a long term trend line with prices coming back up to test the break. Drilling down to a weekly chart shows…

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