Category: Intraday

Dow 60 minute 2014-02-18

In a previous post I mentioned that IWM, Russell 2000 ETF, had a three wave look down from the high. The Dow on the other hand can be construed to have a five wave move down from the high and thus making a more bearish statement.

OEX (S&P100) 240 minute 2014-02-07

This is an update of the chart posted yesterday. You can see where we are testing the 38.2% retrace now. I think there is at least a pause here. It can turn into a point to reverse down from but need to let the morning momentum burn off…

OEX (S&P100) – 240 minute 2014-02-06

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Similar in theme to the EW count on IWM but has that ambiguous drop from the last day of 2013. Conceivably this can bounce higher than implied by the IWM (Russell 2000) but the 38.2 % retrace is fair game for a second wave in a very bearish market. Again, a spike up tomorrow from […]

iShares Russell 2000 ETF (IWM) 60 minute 2014-02-06

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I keep using this chart to illustrate the EW position because it has cleaner structure than the other major indices and the fact that as the leader on the way up, it will likely lead on the way down. Another interesting point is that the high in the Russell came this year and not at […]

ES 240 minute globex am 2014-01-28

ES have been trading in a narrowing range overnight into the US open and thus assume a triangle forming or done which should result in a new low today.

ES 240 minute globex – 20140113

Difficult to see an impulse up from the low made last Monday hence the bearish lean but have yet to have a break.  Need under 1829.25 as evidence that things have changed.