Wednesday, November 27, 2013

ES ~ Globex ~ 27 November 2013

The ES is slightly higher this morning (+2 points). The next support level is at 1800ish:


If 1800 breaks, we should see a decline to 1792ish.



Author: Patrick Eugster

Monday, November 25, 2013

S&P 500 ~ Elliott Wave Count ~ 25 November 2013

(link to previous count)

It looks like we have completed a motive wave at 1800ish. However, the SPX has been very bullish over the last few days and weeks and thus, until we get a big reversal the trend continues to be up.

If the SPX declines below 1770, I think that a bigger correction is underway. I expect this correction to be of similar length as the previous ones, i. e. around 80 to 120 points.

(link to previous count)

The higher we go, the more it looks like that we are in a (black) wave [3] and not in a (black) wave [C]. For now, both scenarios are still possible though:


If we are in a wave [3], we should see a correction next year, similar to 2011, followed by a wave [5] to 2000+.

If we are in a wave [C] though, we should decline heavily starting next year as shown in the chart below (down to pink e in the bottom right corner):


As mentioned in previous posts, these long-term counts should be taken with a grain of salt. There are just too many ways of counting long-term waves. So, in my opinion, it doesn't really add any value.




Author: Patrick Eugster

Thursday, November 21, 2013

S&P 500 ~ Elliott Wave Count ~ 21 November 2013

It looks like wave (v) is now underway. This subwave should complete wave (3) which will be followed by a correction (wave (4)).

(link to previous count)
If the SPX declines below 1770, I'll turn bearish since wave (4) should then be unfolding.

I'll post the long-term charts tomorrow morning.




Author: Patrick Eugster

Wednesday, November 20, 2013

S&P 500 ~ Elliott Wave Count ~ 20 November 2013

(link to previous count)



Author: Patrick Eugster

Thursday, November 14, 2013

Wednesday, November 13, 2013

Tuesday, November 12, 2013

USD/JPY ~ 12 November 2013





Author: Patrick Eugster

Monday, November 11, 2013

S&P 500 ~ EOD ~ 11 November 2013

The SPX is near its all-time high again. If we can break it, we should target 1800ish next.





Author: Patrick Eugster

Thursday, November 7, 2013

S&P 500 ~ EOD ~ 7 November 2013

After many failed attempts the market broke below the support at 1757 today:


The next target should be 1740 (and maybe even 1730). The short-term trend is down as long as we stay below 1757.


Author: Patrick Eugster