Archive for the ‘Elliott Squawk’ Category
Squawk Morning Briefing: Consolidation until Continuation or Chop until Drop
With a market that barely moved on Tuesday and not much scheduled news on the docket this week there isn’t too much to talk about today. Of course that’s against the backdrop of several global news stories; any of which has the potential to generate dramatic new information at any time. The choppy consolidation moves […]
Squawk Morning Briefing: Just Sittin’ Here Watching The World Go Round and Round
Most markets are waiting to reveal direction to us. In such instances, trying to rush things is often an exercise in frustration. Therefore, it seems that one is better off letting the market reveal itself once it is ready. Today we update the clues that we’ll be looking for from markets. Until then perhaps we’ll […]
Squawk Morning Briefing: Active News Environment
The main question facing us at the moment is whether the decline in equities from February 18th is just a correction or a change in trend. The rise over the past few days has gotten up into a region that makes this question more immediately relevant. Unfortunately, it’s position in the wave count has the […]
Squawk Morning Briefing: Big Pre-Market Moves Ahead of Expiration
As we’ve mentioned, options expiration can lead to some wild swings that complicate the short-term wave count. Even though it may be tough counting, we’re at a place where the short-term count is likely to play a critical role in shaping our view on market direction so we will be playing close attention and interpreting […]
Squawk Morning Briefing: Expiration Week Home Stretch
News events have led to a volatile start to expiration week. Now that we’re in the back half, traders have to square up their positions before they expire and their plans may have been disrupted by the sharp moves. We generally let our wave counts guide us to interpret the likely direction independent of specific […]
Squawk Morning Briefing: Leading Indicators
As bad as economists are at interpreting day-to-day events and their impact on financial markets, one thing that most agree on is that the stock market is a leading indicator of economic activity. The evidence is sufficiently strong that value of the S&P 500 index is one of several components in the report of leading […]
Squawk Morning Briefing: Third Wave Drama
After a series of down moves that counted as first and second waves of varying degrees, we were looking for a third waves to begin. As we’ve noted over the past few days, third waves tend to move the furthest and the fastest, so while we didn’t know the exact timing of the drop implied […]
Squawk Morning Briefing: Looking for Higher Probabilities
The very short-term wave structure has a few different interpretations. So despite overnight weakness, it is possible that equities head up today. Nevertheless, the best interpretation is that we have more work to finish on the downside, so we would not want to buck the trend and go against a continued down move. The short-term […]
Squawk Morning Briefing: The Path of Least Resistance
U. S. Equities continued downward in the path of least resistance suggested by the patterns we have been watching. Those same patterns suggest that more downside will follow, even if we continue to see bounces coming as soon as today. We’ll continue to watch the short-term structure and any bounces to try and see how […]
Squawk Morning Briefing:Watching the Odds
Weakness overnight has drawn U. S. equity prices closer to the center of our multi-day trading range and this continues to give a corrective appearance. While ambiguity continues to keep us cautious, the pattern so far suggests that the more likely path out of the range is downward.