Archive for the ‘Elliott Squawk’ Category
Squawk Evening Update: Nothing New
Today’s new highs should not be too much of a surprise. We have several possible counts on the DJIA to sort through for tomorrow morning, but most look like they need at least one more new high before they’re complete. Today’s close places the DJIA within 162 points of the April high. We had mentioned […]
Squawk Morning Briefing: Continued Caution
Overnight futures were up even before a good report from JPM. That, combined with a positive response to a “beat” from INTC has futures pushing to new highs as we prepare to publish. The longer-term count still favors the notion that this current move up is part of a correction, but to keep that possibility […]
Squawk Evening Update: New Highs Again
Today the DJIA joined other indices in new highs. The turn upward after only three waves down was the first clue that it might continue on to new highs. It looks as if the we haven’t yet put in five waves up into the highs; typically a sign that there is more up. However, we […]
Squawk Morning Briefing
We continue to look for possible turning points in markets and we continue to see possible, unconfirmed signs that turns may be in place. Look for detailed commentary below for each market that we cover.
Squawk Evening Update: Boring
Today was about as boring as it gets. The S&P 500, NASDAQ-100, Russell 2000, Dow Transports, and many other indices all put in new highs today. But just as one imagines the hottest new cocktail dress might be the hit of the party before showing up to find everyone else wearing it, a new high […]
Squawk Morning Briefing: Keeping it Light and Tight
Once again, the DJIA may be near the end of a small-degree advance and might see a correction to that advance. In our DJIA update we show that if this index will turn, it needs to do so soon, and so we continue to look at each possible small-degree correction as the potential start of […]
Squawk Evening Update: What a Week
We survived another week; at least this week felt like a survival challenge. Readers who have been following this newsletter know that our evening updates are a chance to recap the day and reflect, as well as set the stage for what we plan to analyze overnight. Weekends are a good opportunity for reflection, and […]
Squawk Morning Briefing: All About Jobs Today
As we mentioned last night, the moves down from recent highs looks to be corrective. However, markets have given themselves enough wiggle room to count out an impulsive decline if they turn down immediately. By setting up this way, it is as if the wave count is telling us what we likely already knew: a […]
Squawk Evening Update: BLS Report Should Set Direction
It is hard to imagine that a day which got off to such a dramatic start would be so boring. The Euro hit upside targets we discussed this morning and then fell sharply. The fall was dramatic and it drew 30 minute EWO below the 140% level suggesting that fives waves up Tuesday’s low are […]
Squawk Evening Update: DJIA New Highs But S&P Says No
This morning we mentioned the apparent importance of the YM FibGrid tree line at 10,914. The futures popped over this level several times but were turned away each time. We suggested that prices would need to stay above this level to continue higher. Once we observed this behavior we were able to use the tree […]