Stocks are looking technically very weak after rejecting the neckline of the head and shoulders pattern. Notice that the Kovach OBV is still strong. The S&P 500 is also at a level of support at 3156, so it should catch some support here.
We just likely saw the completion of a full 5-3 Elliott Wave, and this could be the start of a new one. The level 3190, will be critical to test and break to confirm the continuation.
Stocks have retraced, but could catch a bid at current levels
After plummeting about $7, oil is maintaining the range along with other assets as it finds footing in this...
The US dollar has retraced significantly, forcing us to redraw the Elliott Wave. It looks like it has just...
Stocks broke down from what appeared to be an inverse head and shoulders pattern yesterday. This is why it...
Stocks are stuck in a sideways corrective pattern and are likely to range before the Fed event. The S&P...
Stocks got smashed yesterday, and are trading well below the value area established over the past several days. The...
The two year has remained relatively flat since this week’s open. However it did gap up significantly. Why is...
The S&P has broken relative highs. We have to go back to March for levels from above which it...
Gold has been ripping prolifically. We anticipated a corrective phase back to 1837, but all we got was 1850....
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