Tag Archives: $IWM

Major averages all break support, committing their respective primary trends to likely longer, deeper corrections

rut 03feb14

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Market Roadmap: SPY, DIA, IWM, QQQ, IYT

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Weekend Roadmap: VIX-centricity could trump even fiscal cliff resolution

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Weekend roadmap: go with DIA – Beware of VIX weekly

Weekend roadmap: go with DIA, based on post-cliff resolution restocking expectation, but beware the maturing VIX weekly

DIA – Daily

SPY – Daily

QQQ – Daily

IWM – Daily

VIX – Daily

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Weekend roadmap: pullback likely, prior to last push

SPY – Daily

DIA – Daily

QQQ – Daily

IWM – Daily

VIX – Daily

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Market Roadmap – DIA, SPY, IWM, QQQ, VIX

We expect a corrective move down from the last five days of rallying.  If a move lower accommodates our expectations, it will be the b wave in an a-b-c corrective phase described by the Elliot Wave Principle .

The simplest explanation for what we are looking for is a visual aid below from StockCharts.com – ChartSchool Elliot Wave Basics - You can click the preceding link for a quick tutorial if you are not familiar with Wave Theory.

We are looking for b down noted by the dashed red arrow.

Elliot Wave 5 wave down sequence with an a-b-c upward corrective wave

DIA – Daily

SPY – Daily

IWM – Daily

QQQ – Daily

Conversely, we expect this last chart shown of the CBOE Volatility Index (VIX) to rally in confirmation of selling in the broader market.

VIX – Daily

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