I'll try not to disappoint you, although no one is always correct at reading the markets. But, I mix a little bit of everything in my forecasting. Sometimes one method works well, and then other times a different method works.
Elliottwave seems to work well when the market is trending, and Technical Analysis works better when the market is trading sideways. The news simply allows the market to form a elliottwave pattern, and the TA will provide the support and resistance levels, which also tend to be the Fibonacci levels too.
It's tough, but sometimes I have streaks where I'm very accurate, and other times I'm way off. No one's perfect I guess? But I'll keep at it.
I must say that you are becoming my favourite blogger! you are doing good job here keeping us updated every day with new stuff.others, daneric, kenny, evil, x-trends, are good also, but for now you have edge.your analysis for markets are precise and updated daily wthout too much mumubo-jumbo and alternative scenarios and charts. I'm Elliottician myself, and usually I dont' follow the news or reports much.but you are helped me with JPMorgan report and “street's” and “whisppering” expectations.
keep up the good work, and best regards from Croatia!
I'll be doing a weekend update that is posted by late Sunday night. I'll have more information then and give you my best guess as to the likely target.
For now though, I think this is wave one down, that should last most of next week, and then a wave 2 up into the end of January would be expected. Wave 3 down should start in the first week of February. I'm expecting about a 100 points down on the S&P500.
I don't know? It's up to JPM's earnings, which is released at 7am EST. Intel beat estimates with 40 cents earning, but that was what the “whisper number” was, not the 30 cent that was reported as the market estimate.
So, it didn't move the market. JPM will also have to beat the whisper number, not what the street posts. That's the key to moving the market. Will it? I don't know?
Thanks Fulcrum…
I'll try not to disappoint you, although no one is always correct at reading the markets. But, I mix a little bit of everything in my forecasting. Sometimes one method works well, and then other times a different method works.
Elliottwave seems to work well when the market is trending, and Technical Analysis works better when the market is trading sideways. The news simply allows the market to form a elliottwave pattern, and the TA will provide the support and resistance levels, which also tend to be the Fibonacci levels too.
It's tough, but sometimes I have streaks where I'm very accurate, and other times I'm way off. No one's perfect I guess? But I'll keep at it.
Red
I must say that you are becoming my favourite blogger!
you are doing good job here keeping us updated every day with new stuff.others, daneric, kenny, evil, x-trends, are good also, but for now you have edge.your analysis for markets are precise and updated daily wthout too much mumubo-jumbo and alternative scenarios and charts.
I'm Elliottician myself, and usually I dont' follow the news or reports much.but you are helped me with JPMorgan report and “street's” and “whisppering” expectations.
keep up the good work, and best regards from Croatia!
PS-exscuse moi for pidgin english 🙂
I'll be doing a weekend update that is posted by late Sunday night. I'll have more information then and give you my best guess as to the likely target.
For now though, I think this is wave one down, that should last most of next week, and then a wave 2 up into the end of January would be expected. Wave 3 down should start in the first week of February. I'm expecting about a 100 points down on the S&P500.
Check back Sunday night. Thanks for stopping by…
Red
How far down do you think it will go? before early Feb?
I agree Kmoney. Down a little next week and rally into the end of the month, and first week of February. But coming early February… watch out!
Thanks Pramod… that's what everyone is waiting on it seems…
JPM whisper number is 0.70
I don't know? It's up to JPM's earnings, which is released at 7am EST. Intel beat estimates with 40 cents earning, but that was what the “whisper number” was, not the 30 cent that was reported as the market estimate.
So, it didn't move the market. JPM will also have to beat the whisper number, not what the street posts. That's the key to moving the market. Will it? I don't know?
I think you will get your correction soon (day or two)
But then we head to 1222 SPX.
gap up tomorrow