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S&P 500 ($SPX, $SPY) Monthly: If we take a step back and look at the long term monthly chart for the $SPX, we can see a fairly typical and well outlined Elliot Wave that has taken place since the bottom of 2009. We see a 2 year motive wave (wave 1) with a 1st wave extension to May 2011 and a corrective wave (wave 2) to about the 0.5 Fibonacci level, then a lengthy...

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iShares MSCI Emerging Markets ETF($EEM) Weekly: $EEM completed its inverse Head and Shoulders pattern, breaking out of its neckline resistance back in July 2016. For H&S targets, we take the distance from the peak (of the head) to the neckline, in this case comes out to around 8, then project out the potential target level from the breakout (or breakdown when not...

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CVS ($CVS) Daily: $CVS appears to be on its wave 4 corrective move before starting and completing the final Elliot Wave, shown in this daily chart. Wave 3 retraced back to 0.618 fib level as it was expected, and appears to coil between $75-85 range for the time being. A break below the $75 level would indicate a move to its target of ~$60 price target. Walgreens...

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Intel ($INTC) Weekly: After a slow grind in a channel between $15-25 for, oh TEN years, Intel finally made a step higher and broke through $25 on June 2014 – then proceeded to get in ANOTHER sideways channel between $27-37 where it currently sits. It appears that it’s getting a bit double toppy, and seems it may test the seven year trendline support as well as the...

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Apple ($AAPL) Weekly: Apple had a nice run for a couple of years after correcting down to $55 in Mid- 2013. It then had a year long wedge corrective move after hitting highs near $135 and after breaking out in July 2016, it’s pushed up higher to $156, and now seems to be correcting a bit here at the moment. If you look at the current Elliot Wave pattern that it’s...

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Amazon ($AMZN) Weekly: Just a quick view on simple technical and support levels on Amazon to get an idea of where it may be headed. Weekly chart shows the stock price rolling over with overbought RSI conditions and MACD rolling over, in the past couple of peaks and new highs. Note the support levels stand firm at the previous highs as the stock step ladders to new...