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Disclaimer: This communication should not be construed as an offer to sell or the solicitation of an offer to buy any security. (Click here for full disclaimer)
Disclaimer: This communication should not be construed as an offer to sell or the solicitation of an offer to buy any security. (Click here for full disclaimer)
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
Disclaimer: This communication should not be construed as an offer to sell or the solicitation of an offer to buy any security. (Click here for full disclaimer)
SPY – Daily
DIA – Daily
QQQ – Daily
IWM – Daily
VIX – Daily
Disclaimer: This communication should not be construed as an offer to sell or the solicitation of an offer to buy any security. (Click here for full disclaimer)
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
Disclaimer: This communication should not be construed as an offer to sell or the solicitation of an offer to buy any security. (Click here for full disclaimer)
$SPY vs. $IWM daily
Disclaimer: This communication should not be construed as an offer to sell or the solicitation of an offer to buy any security. (Click here for full disclaimer)