Managematics
David Starr is better known as Managematics to members of the First Wave chat on ThinkOrSwim. Most use his many freely-distributed implementations of First-Wave technical studies and his regular market commentary, including timely trading insight based on Elliott Wave analysis. David's acclaimed FibGrid and DynaRange indicators are available right here on FWTrader.com.
Squawk Morning Briefing: Old, Bold Traders
Markets were mostly flat overnight but started to move as we were writing this morning. Continued weakness in equity futures and the Euro suggest that we might open below recent support levels. It is possible that we have seen tops in both these markets, and establishing and holding underneath resistance is the first step toward […]
Squawk Evening Update: Unusual Action Continues
The DJIA did not turn down to quickly fill its opening gap, which had us looking for a new high. We also needed that new high to end below 11,258.011 in order to support the idea of a a decline. It remained just barely under that critical level before retracing most of its gains for […]
Squawk Morning Briefing: Special Coverage of GS
The G20 meeting is now over so a low range day on Friday with few new significant waves to count may give way to more motion today. With uncertainty of those finance discussions removed, traders have decided to sell the Dollar and equity futures are also getting a lift. The overnight high in U. S. […]
Squawk Morning Briefing: Heads or Tails
Action in U. S. equity indices looks toppy. Five waves up suggests either a correction or a turn, but so far the move back down doesn’t look like more than a correction. Topping action can get a little crazy so we won’t rule out a pop to a minor new high before a turn, but […]
Squawk Evening Update: Altitude Sickness?
We had a pretty wild day in the markets today and have a lot to analyze in preparation for tomorrow’s briefing.
The count calling for new highs in U. S. equities played out. The high of the day was about 10 points above the Fibonacci level shown where c = 161.8% of a and begs the […]
Squawk Morning briefing: Watch Currencies During G20
The Euro is the story this morning. Its wave structure seems to suggest it will make new highs and that may be the thing that pulls equity prices up over their prior highs. Economic data out this morning includes weekly jobless claims, leading economic indicators, and the Philly Fed report. We also are anticipating earnings […]
Squawk Evening Update: We Missed It
We missed a few things today. The first was confirmation. We said the market would need to give us some because we had only seen three waves down. Today did not give us that confirmation. The other thing we missed was presenting a valid alternate count to consider, although we did email subscribers with the […]
Squawk Morning Briefing: Need Confirmation
Tuesday’s impressive decline in equities and the Euro has only extended to three waves so far. This leaves markets at a critical point where they could have experienced little more than a downward correction, or the move could evolve further downward, but won’t get too far unless the move first extends to five waves. We […]
Squawk Evening Update: January Redux?
In our Monday morning briefing we mentioned the tendency for big moves following options expiration to wait until Tuesday to materialize. So far, the action around expiration seems to have some similarity to what we observed in January. We’re not saying that the subsequent decline will be identical. However, that would be consistent with the […]
Squawk Morning Briefing: No Excuses
The Elliott Wave apologists and complainers are starting to emerge. Other advisory services that were regularly tracking the DJIA have shifted their emphasis to other indices that are not so close to their April highs. We are hearing excuses about index composition; how if AAPL has been added to last year instead of CSCO that […]