Equity Markets Still Stingy

We have little new to say today as we continue our game of watching and waiting.  Our forex counts continue to be clearest (at least as long as they remain correct), with equities still at a critical juncture.  We are maintaining our outlook for a stronger Dollar and weaker Euro and if those have any indication of investors global risk appetite and relative desire for holding equities then we would expect it suggest that we should look for a turn down.  However, those counts remain particularly unclear, any turn down could come after one more minor new high, and there’s no requirement that equities must follow currencies.  We have a few clues to watch for in our update today, but watching is what the market has left us to do in equity markets for the moment, at least for those of us who want a clear Elliott wave outlook to trade.

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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?
• What price levels would make an alternate scenario more likely?
• What technical indicators should be watched throughout the day to interpret wave action?
• What intermarket movements merit special attention to understand likely price trends?

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Each day Elliott Squawk will update the outlook for the following markets:

• The Dow Jones Industrial Average
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• The EUR/USD cross
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• U.S. Treasury bond futures

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:

• If S&P 500 and Dow counts are ambiguous and NASDAQ behavior helps identify the likely next move then NASDAQ analysis will be presented.
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Kevin McEwen and David Starr are best known to First Wave chat room participants as Kevy99 and Managematics and by their reputation for their Elliott Wave counts that have predicted market turning points. Kevin has been counting Elliott Waves for 28 years, successfully forecasting market moves in virtually every financial environment. David brings together talents in financial market analysis and software development to his wave counting. He has authored many of the studies used by First Wave Traders as well as a number of proprietary studies to aid in counting waves.

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