Drop from 9951 – 9723 was a corrective 3 wave decline and stopped right in the middle of our green zone. (Recall Green Zone is the zone where we expect buyers to appear and traders can look for long positions). Buying has stopped the decline in the green zone so far. Let’s see what happened […]

Preferred wave count suggests wave ( 4) low is in place, wave 3 of ( 5 ) is still in progress which can test 3.08% before  wave 4 of ( 5 ) pull back starts. We don’t like selling yields in proposed wave 4 pull back and strategy remains to buy the dips in 3, […]

The SPX  showing a nice Elliott wave FLAT corrective structure which runs as a 3-3-5 structure when a bounce should happen as far as the 15  divergence in the 15 minute chart remain.  

Wave (4) is thought complete and rally from the low is completing an impulsive structure as expected. If the reaction after completion of current cycle turns out to be impulsive, that would favour the ALT view which is that of a FLAT wave X. We don’t like selling the instrument and if pull back after […]

Wave (4) is thought complete now while above 2.57%  we expect another high to 2.72 – 2.74% to complete wave (( v )) of 1. If the reaction after completion of current cycle turns out to be impulsive, that would favour the ALT view which is that of a FLAT wave X. We don’t like […]

Yields have turned higher in what looks to be an impulse in wave (( i  )) of ( 5 ). 2.80% could be tested before we see a pullback in wave (( ii )) and more upside. Hourly cycles are positive so we don’t like selling yields in proposed wave (( ii )) pullback and […]