Last week’s S&P 500 update highlighted a triangle and complete 5-wave pattern likely to be followed by a ‘pop and drop’ with a minimum down side target around 2,720.
Price popped to 2,817, and subsequent dropped to 2,722, confirming (and possibly completing) this pattern.
As mentioned in...
This is a shorter-term Elliott Wave Theory-based forecast. A longer-term forecast based on a different set of reliable indicators is available here.
Most of February’s market action was outright boring!
Starting in late February, however, boring morphed into revealind. The range bound trading...
In mid-January, I asked: Is the ‘Bear Market’ Already Over?
The above article highlighted bearish (bullish for stocks) sentiment extremes, the average bear market trajectory (which projected a rally), and – most importantly – a bullish breadth thrust.
Therefore it’s no surprise that stocks...
From December 3 – December 26, 2018, the S&P 500 lost 453 points. Since then, the S&P rallied 400 points.
Who would have thought that the worst December since 1931 would be followed by the best January since 1987?
We are truly living in a world of extremes. The rich...
On December 24, 2018, the S&P 500 closed at 2,351.10. Much of the financial media pronounced a bear market that very day:
CNBC: We are Now in a Bear Market – December 24, 2018
Yahoo! Finance: S&P 500 Enters Bear Market: December 24, 2018
Investors Business Daily: S&P 500 Enters Bear...
Although I warned of an environment where the risk of a meltdown is high (wave 3 down, based on Elliott Wave Theory), I can’t claim credit for predicting the December crash.
Because of my multi-indicator approach to market forecasting, and profound concern for my subscriber’s portfolio’s, I...
2018 has been a year of extremes. The year started with stocks becoming extremely over-bought, and ended with stocks getting extremely over-sold.
In fact, 2018 hosted the worst December performance since 1931.
The December 23 Profit Radar Report stated that:
“We are likely in an environment...
The S&P 500 has reached a seemingly important ‘make it or brake it’ zone. Here’s why:
For the last couple of weeks, I’ve been following two scenarios:
1) Washout decline with target of 2,500 – 2,500 (purple arrow, chart below)
2) Accelerating wave 3 lower (yellow arrow, chart below)
Crude oil prices dropped 38% since October 3. The June 20, 2018 Profit Radar Report published the following analysis and projections:
“The two charts below show two possible longer-term Elliott Wave Theory counts:
The first one implies that a major top is in.
The second one implies that we’ll...