Commentary and chart analysis featuring Elliott Wave Theory, classic TA, and frequent doses of sarcasm.
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Wednesday, December 21, 2022
SPX Update: Inflection Target Captured
Monday, December 19, 2022
Brief Update: Three Waves Down
Friday, December 16, 2022
SPX, INDU, BKX: To B or Not to B
Wednesday, December 14, 2022
SPX, INDU, and TLT Updates
Monday, December 12, 2022
INDU and SPX: A Little More Detail
Since last update, while the market has technically done nothing, INDU has continued its rejection from the first blue 4 inflection:
I added some detail to the SPX chart, since I don't want the straight line pointing downward to be taken as an actual nuanced projected path. SPX does not need to follow the exact path shown below and probably won't, but this is more reasonably representative of the type of path SPX could take if we have already seen the start of blue 3:
In conclusion, no change from last update, and we remain on the cusp of an impulse. Trade safe.
Friday, December 9, 2022
SPX, INDU, COMPQ: On the Cusp of an Impulse
Wednesday, December 7, 2022
SPX Update: Rejected at Blue 2 Inflection
For the past few updates, I shifted from my previous near-term bullish stance to a more cautious stance, and on December 5, I wrote:
What we do have now, though, is a case where the "more upside" of the past couple updates has been achieved, the 4100 target from October has been captured, and the month-long standing blue 2 on the chart above has been reached. Thus, this is a neutral zone; people tend to finally "get it" and become bullish or bearish once targets are captured, but that's the wrong time. Once targets are captured, the market is at last truly free to go either way again.