All Entries in the "Indices" Category
Nasdaq: Value Averaging For The Long Haul
Have you kicked yourself for having missed the superb rally of the 1990s in Nasdaq? More likely you have kicked yourself for buying stocks on the way down, only to see it go even lower! Ditto for the rally between 2003-2008 and the collapse that followed. What are we poor blighters supposed to do? Precisely [...]
India’s Sensex: Elliott Wave update
About six weeks back, wavetimes anticpated that India’s Sensex index will dip to the low 13,000 and then rally again. This has materialized. (If you would like to refer back, please navigate from the top menu under Equities/Indices/Asian Indices/India). How far can the fifth wave go? The earliest target comes between 16045 and 16115. A [...]
India’s Sensex: Elliott Wave Analysis
Is there one right way to count the waves? I can say this for sure. Until a move is over, there is certainly more than one way to count. Sometimes, even after a move is over, one has to decide where exactly the move finished. Take the case of India’s Sensex. Many Elliott wave analysts would say [...]
India’s Sensex readies for correction
The Indian stock markets have been in a tizzy following a resounding victory by the Congress party. The Sensex gapped higher from 12219 a day before to open at 13479 the day after the election results. Today, the markets reached a high of 15045, up 23% after the election results. The 10-minute chart shows three [...]
S&P 500 breaks higher: update 2 June 2009
After repeated failed attempts to break the support at 880 levels, the S&P500 index has finally rallied to fresh 2009 highs. Where does this leave the Elliott wave analyst who has been looking for an eventual move lower towards 780?
S&P500 Elliott Wave update:21 May 2009
When we are seeking an imminent reversal we are happy to spot anything that seems to support our view! This is a normal trader behavior. There is nothing wrong about that, because we could still be right! However, I suggest that you read about what an “Outside Day” is. As I have been saying, we [...]
S&P500 Update: May 19, 2009
One of the hardest decisions a trader makes is to take a punt against the current trend. It is seldom profitable immediately, and he worries how far away the market will go before his view becomes the accepted thinking. The short term trend continues to be positive and the futures are indicating a higher opening. [...]
Elliott Wave Analysis of some Indian stocks
Now that the Parliamentary elections are over in India, and a decisive mandate has been given to the Congress party and its allies to continue in power, most people expect the stock market to react positively. Let us take a look at three Indian stocks from an Elliot Wave Analysis perspective, and see where they [...]
S&P500 ready to dive?
On 5th May I presented you with this chart. The market more-or-less behaved as expected. In a more recent update I warned you to be patient until we get the first clue of a topping out is shown to us. The reason is quite simply we won’t know how far an extedning wave will go [...]
S&P500 remains resilient
In recent updates I have called for the S&P500 index to remain well bid, warning we could see 937. That level is very close, and not far from another resistance at 943. I continue to remain positive in the very near term for the market
S&P500 continues its rally
The 886 level in S&P didn’t hold for long, and any shorts there should have been stopped just above that level. The market continues to remain strong, and there is a pretty good chance we will reach 937. See what happens there. Don’t sell until we know a top is in place. As we are [...]
S&P 500 update: where is the top?
You will recall that in my last update of 23rd April, I had warned of another move higher. Once an extending fifth wave is completed, and we get a first sell-off, we should always be on the alert for a retracement all the way back to the highs, and potentially even marginally higher levels. It [...]
S&P500 index: is a top already in?
First, remember that we are not discussing a major top for S&P500. What we are focusing on now is the top around 875 because we determined that a five wave rally that had a diagonal triangle in its fifth wave position is badly in need of a correction.
S&P500 Elliott Wave update
We got the break in the index as anticipated, and the recovery looks good too. Be alert for a failure inside the wedge so you can join in soon after. Here is your chart. S&P500 Elliott Wave update Related S&P500 links: Was that the stock market bottom? SNP500 revisited S&P500 and Citi Fifth wave extensions [...]
Ending Diagonal Triangle in S&P500?
On 8th April, we saw the possibility of the markets moving higher as part of the final leg of an Ending Diagonal Triangle in S&P500 index. As the attached chart shows, this up move has materialized. The question now is should we put on short positions around the current levels?