Elliott Market Waves

SPX monday daily update

Monday, July 27, 2009

Hello there. My favorite count puts blue 5 ending in near 1000 points, as you can see in one of the charts.
On the other side, I have some doubts looking at the 10 min chart. I can see some impulsive movement that I should not be able to see. For that reason, I made an alternative count that brings the extended blue wave 5 scenario to the table.
My favorite count still is the one of the ending diagonal, since i don't trust 10 min time frame for Elliot wave counting. I use it to confirm my count but that wont happened today.
Charts today are from 4 hour CFD's. My provider is having some problems with the cash ones.
Lets see how this thing plays out.

Best to your trading
PH

SPX daily update

Friday, July 24, 2009

Hi there. In this moment I'm on vacations ans I don't have the counting software with me so I won't leave a chart this time.

Still nothing changes, and we need to see the development of this blue wave 5. If there is another big push higher then we are in rose 3 of blue 5. If not and waves start overlapping again, then we must consider that rose 5 of blue 5 is in play and we are finishing red 1.

Best to your trading.
PH

SPX daily update

Thursday, July 23, 2009

What seems to be an ending diagonal is now a blue wave 5 developing in full power...

I think that 1000 points will be attacked next week in conclusion of red wave 1.

Best to your trading.
PH

My view from 666 low

This is my count from 666 low. I made it yesterday since i was about 3 months away from the markets. I'm a very simple counter, the simplest explanation tends to be the most correct.

Regards
PH

Wednesday daily SPX update

Hello! Waves are overlapping. Examining the CFD's 10 min chart we can see series of abc´s that suggests a blue 5 developing in ending diagonal. This is consistent with the 956 false break scenario. One more push higher and market should retrace for a red wave 2.

Have a good trading day.
PH

SPX daily update

Wednesday, July 22, 2009

Hi again. Market retraces as expected and gave us new long opportunities. I'm not sure if it's going retrace a little more but it is fairly possible. I change my count a bit but the new one leads to the same place. Think this market should move higher tomorrow or Thursday. Little Patience.
Still not reasonably satisfied with the count but I think we are on a not ended impulsive move for sure.

Best regards
PH

SPX daily update

Tuesday, July 21, 2009

Hello friends, phneutral here.

I think that index is going to test or false break 956 points before any significant pullback.

Count, rising wedge formation and RSI divergence suggests that.

Think best strategy may be waiting for that pullback before entering long. On short term perspective, in this moment its not safe to be long in this market.

Best regards
PH

Holidays Time

Sunday, July 19, 2009

Today I will leave on holidays to Croatia, until 29th July so I wish you all excellent trading weeks until my return. However, during my absence, this "home" will have a special guest with daily updates through my great friend Ph Neutral, who is also an excellent ellottitian. Until my return enjoy some pictures from Croatia.
P.S - See my last SPX and DAX updates below this poster.