Latest Posts

Dollar Index 2017-05-17

The Dollar has been dropping but think it is too soon to declare the dollar rally up from the 2016 low to be over.

The Day Ahead 2017-05-17

We finally get a break under the hourly moving averages which may result in net lower prices for at least a couple weeks.

The Day Ahead 2017-05-16

Yesterday a new high on a closing basis in the S&P 500. A quick little blow-off of 10 points or so would be nice just to clear stops but can’t rule out a sloppy topping formation.

Wheat futures 2017-05-15

I’ve had a request to look at grains and have been dragging my feet about it because I don’t have a strong opinion on the EW structure. Short term looks weaker but perhaps not much so and worth watching for a drop to a new low and an attempt to reverse.

The Day Ahead 2017-05-15

Perhaps we can get a new high in the SPX this week. Big picture, same as before, either we are working on ‘b of (iv)’ or wave (iii) with (iv) to follow.

Copper futures 2017-05-14

The 2016 bounce in copper ran into resistance from various channeling techniques early this year and has been drifting lower since. I remain skeptical that a significant low has be set in copper, this may be the early stages of a move down over the next couple years to a new low under that of […]

The Day Ahead 2017-05-12

The market action over the last several days has been annoying but hesitate to say the market has topped out just yet.

The Day Ahead 2017-05-11

The S&P 500 is still having trouble poking back above 2400 but have to let them try again today. With any luck they finally push to a new high early next week.

Consumer Discretionary ETF (XLY) 2017-05-10

I’ve taken a look at this sector ETF to see if it had any clues to wear we are in the broader stock indices. In general looks like the SPX. Either the expected near term high is the penultimate high or with a different EW count, this could be a more significant high.

The Day Ahead 2017-05-10

The last ditch support for hopes for a new high in SPX is 2392 was tested late in the day yesterday. Important that they rally off that number today to get that one last high that will knock at a few early bears and may finally exhaust the advance.