Apple is bouncing from support that we have alerted our subscribers to for many weeks. Potential initial targets for the bounce are listed on the chart (460, 508, and 545) but corrections are notoriously difficult to forecast. We suspect that a touch of the lower main channel will be resist but where that is in price is contingent on the speed of the bounce. We can say that the bounce should have a choppy feel compared to the recent decline.
apple monthly EW count
Last December, we presented the bearish scenario we were forecasting for copper. A few months later, when prices seemed on the verge of breaking downward out of their consolidation range, we posted an update confirming that the market was behaving as expected, and offering some preliminary price targets. We mention the previous articles here, because we believe they are helpful in showing the reader how a trade develops, as well as the distinction between the time when a potential trade is first identified and the time when an entry becomes more favorable. Now, we attempt to identify where the trade . . . → Read More
The short-term bearish path that we forecast on March 1 as the most likely scenario for gold appears to be playing out. However, that does not mean we think the decline will extend a great deal farther. In fact, the majority of the decline is probably already over. There might still be a trade to the down side, but that trade probably will be heading into a long-term low. Even so, the chance to begin an enduring bounce and rally is likely weeks or months away. Our analysis suggests that gold needs, at a minimum, another lower low before the . . . → Read More
The Bradley timing model has not had much influence on the stock market to this point as you can see in the chart below. The black heavy line is the Dow up to April 19th 2013 plotted with the Bradley siderograph as a blue dotted line. The most important things to pay attention to when interpreting the Bradley line are the inflection points, which are marked, and not as much the direction or magnitude of the line. This Bradley siderograph was calculated by Wave59.
Bradley Siderograph for 2013
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In the second part of a series this month, we examine how major stock indices globally are behaving during a time when U.S. indices are showing signs of exhaustion. In the previous post we identified resistance areas and a possible turning point in the Global Dow Index (INDEXJS:GDOW). Now we turn to regional indexes, beginning with the Euro Stoxx 50 Index (INDEXSTOXX:SX5E).
The Euro Stoxx 50 Index includes 50 blue-chip stocks from 12 Eurozone countries. It serves as the underlying for a variety of futures and options contracts, as well as exchange traded funds such as the SPDR Euro Stoxx . . . → Read More