VXX Testing Lower End of Support

The iPath S&P 500 VIX ST Futures ETN (VXX) continued to move lower yesterday.  It is testing the lower end of the support zone for what could still be considered part of wave (iv) under the purple count, which is just barely keeping this count technically alive.
by Mike Golembesky - 3 days ago

Asian Indexes Tumble Last Week

The Nikkei, Hang Seng, Shanghai, Nifty and ASX sliced lower last week.
by Garrett Patten - 5 days ago

Price Action Attempting To Stabilize, Still Threatened By Prolonged Correction

The market (S&P 500) is currently backtesting one of the key macro trending support areas around the 2760s, which is coincidentally the daily 200 simple moving average (SMA) area.
by Ricky Wen - 5 days ago

HUGE Test For Metals

This past week, we got the rally we were expecting in precious metals, including the SPDR Gold Shares (GLD) and Gold Miners ETF (GDX).
by Avi Gilburt - 6 days ago

Wall of Resistance Comes Down (Finally) for GLD

Finally, the 114 wall in the SPDR Gold Shares (GLD) comes down!  Now it begins to get interesting.
by Luke Miller - 1 week ago

Bayesian Probabilities Point to SPY Washout in the 250's

Many things our Bayesian Timing daily write-ups have discussed regarding the SPDR S&P 500 (SPY) since June 2018 have generally played out.
by Luke Miller - 1 week ago

Nightly Cryptocurrency Report: First Sign of Flush or Shakeout?

With the breakdown last night in Bitcoin, Ethereum and other cryptocurrencies, my primary view is that our final decline has begun.
by Ryan Wilday - 1 week ago

Tomorrow Is It!

Friday is likely going to be a day of follow through.  Should the market want to prove bullish intent, then it will take us up strongly.  And should we be able to break out over the resistance noted in the 5-minute Emini S&P 500 (ES )chart, then I can turn more bullish for the potential to 3000+.
by Avi Gilburt - 1 week ago

Bullish Signal on VXX, Dow Nearing TL Support

VXX seeing a bullish signal on the larger degree pattern, which could be the initial signal that we may have struck a bottom in the wave ((b)) as shown on the 240-min chart.
by Mike Golembesky - 1 week ago

The Chop Continues

"CHOP" is truly the best word to describe a stock market b-wave.  And, that is exactly what we have been experiencing since yesterday in the S&P 500.  This is why I warned that this type of market environment chews trades ups.
by Avi Gilburt - 1 week ago

Bears Keep Letting the Bulls Back In

It’s now three times in a row that bears are unable to close in strength at the lows and keep letting the bulls recover in the afternoon with stick saves in the Emini S&P 500 (ES).
by Ricky Wen - 1 week ago

European Indices Continue Lower

European indices traded lower last week and face a possible retest of the September low.
by Garrett Patten - 1 week ago

No High Probability Calls

Our Market Mood Indicator (MMI) was looking for an up close, but it was cautioned not to expect an easy or straightforward trading day.
by Dr. Cari Bourette - 2 weeks ago

U.S. Indices Continuing to Look Higher

Bayesian signals remain long in the SPDR S&P 500 (SPY), short in US Oil (USO), and long in gold and silver (GDX, GLD, SLV).
by Luke Miller - 2 weeks ago

Out of the Weeds

After another day of basically no movement in the cryptocurrencies, my view has not changed.
by Ryan Wilday - 2 weeks ago

Odds Increased for Significant Top on RUT Daily Chart

Zooming in further to the Russell 2000 (RUT) daily chart, RUT broke below 1663, increasing the odds of a significant top being in place.
by Xenia Taoubina - 2 weeks ago

Bull Still on Offense

Our setup for continued upside toward a new all-time high as wave (C) of 5 remains intact as long as the pre-market low at 2917.
by Garrett Patten - 2 weeks ago

Bull Train Stabilized After Brake Check

The monthly closing week was just a good old inside week in order for the price action in the Emini S&P 500 to trap in more participants from both sides before the eventual acceleration.
by Ricky Wen - 2 weeks ago

Key Week For The Market

As long as the market remains over the 2880 region on the S&P 500 (SPX) early in the coming week, we still retain our potential to rally to 3225 into 2019.
by Avi Gilburt - 3 weeks ago

Sentiment and the Dead Coin

Back in early 2017, after Ether Classic existed only as a post-fork coin from the Ethereum chain (actually the original chain pre-fork), I told the traders on Elliott Wave Trader that I was seeing a very bullish pattern in the coin.
by Ryan Wilday - 3 weeks ago

So Far So 'Good'

With the exception of a few squiggles, everything is going as expected with our counts on Bitcoin (BTC) and Ethereum (ETH).
by Ryan Wilday - 3 weeks ago

Seems Lower Lows in Gold & Miners Becoming More Likely

The action we have seen since the weekend is making it more likely that most of the precious metals charts will still provide us with a lower low later this year before we complete this two-year long wave ii.
by Avi Gilburt - 3 weeks ago

Last Chance For 3225 On SPX

We now have one last chance for the S&P 500 (SPX) to strike our long-term ideal target at 3225SPX.
by Avi Gilburt - 3 weeks ago

No Indication Pullback is Complete Yet

So far the S&P 500 (SPX) has retested the low made yesterday and is attempting to bounce, but until a break back above the pre-market high is seen, I can't place faith behind anything immediately bullish yet.
by Garrett Patten - 3 weeks ago

ETF Watch: Bullish on SPY & GLD, Bearish USO

The Bayesian Probability (BP) support cluster around 290 mentioned in yesterday’s daily thoughts have thus far buoyed the SPDR S&P 500 ETF (SPY).
by Luke Miller - 3 weeks ago