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.
Equity Market Special Update
Friday’s push upward took out some critical levels in the S&P 500. It’s time to step back and take a longer look at wave counts in equity markets.
Come in to My Parlor…
Before the open we get the BLS report followed by a full day of pre-holiday trading. Few participants could lead to a lifeless trading sessions but surprise moves could lead to more violent swings than usual due to lack of liquidity. Predicting which of these or other scenarios might unfold is nothing more than a […]
Brought to you by the letter F and the number 5
In many markets we are seeing the development of what we’re counting to be flat corrections. These corrections which unfold a 3-3-5 appear to be nearly complete and perhaps even in or ending the fifth wave of the 5 portion. If so, the end of fives up would yield to a resumption of the downtrend in those markets.
Tides Turn — Choppy Waves Conceal
Today’s update provides an opportunity to reinforce an important concept: sometimes Elliott Wave analysis gives more ambiguous results than others. Right now we believe that we have relatively convincing signals on many timeframes except for those that impact the very immediate future. That leaves us with actionable insight for swing traders or those with even […]
Just Sitting Here in Limbo
Futures have already spiked below Tuesday’s lows on news this morning, and seem to be holding below these levels. So perhaps it’s premature to speculate that we need to wait too long for confimration that our continued decline is imminent. Just be aware that in the Dow our next decline should complete a slightly larger degree 5 waves down leading to a larger correction before resuming the downtrend. An expected bounce notwithstanding, three waves up and five waves down builds confidence to our broader view.
Air Pockets Ahead
The Dow ran right to our target range and reversed. The top itself was unconvincing, but the subsequent action has been decisively lower. Even with the foreknowledge that we have a habbit for calling the end of second waves too soon, we’re saying it yet again, it’s time to fasten your seatbelts and prepare for a bumpy ride. Overnight […]
We Rock!
If we’re just going off of this morning’s calls, we rock. The Dow reversed from the 50 day SMA just as we suggested it might just as the EURUSD decided it needed to put in a better looking five-wave decline to complete in [5] as it revisited the FibGrid fireline. 2-for-2. However, we need to […]
To everything: turn, turn, turn…
The Squawk’s most likely wave count continues to show U.S. equity markets in a primary wave [3] down. While third waves are known as particularly rambunctious, this one has remained mired in various degrees of first wave downward action and upward second wave correction. While Friday’s mid-day bounce is likely yet another small degree second […]
