Visa has unfolded in a clear impulse wave since its 2009 low and regardless if we stutter higher the next big move of consequence will be on the downside towards 200. I am bearish overall and Visa does not seem to be able to close above the upper trendline bolstering my confidence it is rollling over. How it will reach the previous 4th wave zone ( 230-200 )...
I am showing you a weekly chart that I might keep updated as market action warrants but to get a better idea of my view on CAT, have a look the monthly chart using the link here below. The bottom line is I think CAT is heading towards 72 to end wave C of a large bullish triangle. So choppy down for a while
CAT has the potential to be unfolding in a very large bullish triangle. I am not holding the outlook with blood in my hand but it is a structure to keep an eye on as it might help us to be on the right side of the market. Furthermore, if indeed CAT is moving sideways for a while, we know that triangle precede the last move implying two things: we might have a...
Markets are patterned but not always clear therefore subject to personal interpretation. But Boeing appears to provide us with a nice impulse wave from its 2009 low. If correct, that implies two things : First a correction has started or will pretty soon that should push BA back towards 135-120. I like 120 as it is the 38.2 retracement of the previous wave and the...
We were expecting a decline which we did get but today's retracement from the morning low was somewhat deep making me suspicious my expected multi-weeks decline has started. Still possible but we would have to resume declining right out of the gate tomorrow morning. I think we need a choppy move that will lead to a another small upleg before some kind of top is at...
The advance we have since early February is getting tired with the bulls showing signs of fatigue everywhere. Using the etf IWM that mimics the Russell 2k, we see many signs of exhaustion: Oscillators are diverging, volume is lessening, the wavers can count 5 up but the most powerful sign is a rising wedge ( a diagonal triangle under the Elliot Wave Principle ) a...
FDX appears to be moving sideways in a bullish contracting triangle that should lead to new high pretty soon. Over or not, current price action is choppy and sure looks like as a series of "three's" better labeled as a running triangle ( or a bullish flag ).As triangles precede the last move up within a wave, that would mean once FDX breaks out on the upside one...
From the recent high the SPY has declined in a clear ABC elliott wave pattern. Two impulse waves separated by a triangle of near equality strongly suggest that it is a counter trend move and once over, new high is in the card. I am confident about that but my confidence ends right here. This counter trend move might not be over, etc. The only point I am trying to...
I am showing you a nice monthly chart of Fedex not to demonstrate my labeling skill but only to make one point : The bulls are running the parade and it's not over yet. Some might argue that one stock is not a good proxy for the overall equity market but a rising tide lift all boats and I found that stocks with the right look can often be used as a warning signal ...
I am a firm believer stock markets are patterned in shape ( Elliot wave ) and cyclical ( Martin Armstrong works ). Because labeling waves is subject to human nature, using the Elliot wave principle to trade is tricky at best. Nevertheless, sometime when you see a pattern you just have to accept what is in front of your eyes and right now the SUI30 appears to be...
If so, the overall market can be choppy down for a little while then rally to new high while PG would not confirm it. In other word, PG would be ending an impulse wave down right now ( the TREND ) then would go up in a choppy rally ( Countertrend ) before resuming its decline which would coincide with the beginning a decline in the overall stock market.