Squawk Morning Briefing: The View from the Top

We continue to see possible topping signs in many markets.  Overnight the Dow futures put in a pattern that could be complete, as did the Euro.  While the DJIA may still need one more new high to complete its run, it is possible for a bounce near the open to carry cash to its peak without making a new extreme in futures.  And if cash failed to put in a new high, we wouldn’t quibble given the count at larger degrees.

However, we would still insist on confirmation to call the tops.  Given the setups, we’ll be watching closely to see if the confirmation levels in our video briefings begin to be taken out

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Elliott Squawk delivers thorough market preparation every morning in time to take action during the trading day. By combining up-to-the-minute futures activity with traditional end-of-day analysis from cash indices, you receive analysis based on the latest conditions as the trading day sets to open. Each issue of Elliott Squawk goes beyond traditional Elliott Wave analysis because we recognize that trading Elliott Waves is much more than just looking at the most likely current count. Squawk will prepare traders to assess the market action as it unfolds by answering questions that any Elliott Wave trader should consider:

• What price levels and wave motions would confirm an expected move?
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• What intermarket movements merit special attention to understand likely price trends?

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From time-to-time when circumstances warrant, Squawk will present analyses of other markets that help interpret wave action in a covered market. For example:

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