AndreaGrey

AndreaGrey

The news out today is that we are officially out of a bear market having closed the day positive above the longterm bull market trendline (see the arrow on the chart). I will not get into the details about this and/or discuss whether or not this is true. However, one fact remains and that is we are entering one of the most pivotal moments in the stock market since...

AndreaGrey

Have you ever been so convinced that you are right about the market at yet it goes against you? Most have and in fact, most make the same mistake. The mistake is to keep in a trade based on conviction and not what the chart is telling you. Right now this is a very important thing to keep in mind. Bear markets are renowned for volatility and second-guessing. In my...

AndreaGrey

Hi everyone, Know doubt you've looked at a lot of charts recently that make it fairly we are in a period of uncertainty, to say the least. There are a lot of people out there trying to call the bottom and convince others that they should start buying now because the prices are so cheap. While I do agree that the next few years will be one of the best times in...

AndreaGrey

It may be reasonable to consider that if in a recession we will see near 50% market correction. Looking at the chart we can see a possible outlook based on Elliott wave pattern starting in 2008 and a good correlation to the bottom of a megaphone pattern as indicated on the cart. We can expect that the bottom of a recession will not happen all at once regardless of...

AndreaGrey

In previous posts, I got some great feedback that I used to improve my charting of the S&P's long term trend. The trend continues to be bullish , however, there is still a growing concern that a recession is overdue and that a combination of a global slowdown and aggressive trade tensions are adding to the risks. There are many other economic factors both for a...

AndreaGrey

hello all, I decided to post this chart to get some feedback on my Elliot wave technique. I've been looking at wave theory and guidelines, but I'm trading alone and don't get much feedback. In this chart, I see a triple top developing and a contracting triangle. If you see some changes or improvements that I can make to my charting and have time, please send me a...

AndreaGrey

S&P looks to have reached a peak for the time being with a correction in the works. The potential for a triple top reversal is possible as there continues to be increasing downside risk (Trade War, Brexit, consumer confidence, impeachment, global economic outlook, and slowing Chinese economy to name a few). Additionally, a major catalyst that could help the S&P to...

AndreaGrey

Elliot wave is reaching a cycle end, which coincides with a broader megaphone pattern. A new high, 304 or higher, for the SPY followed by a retracement. Given that an oil price spike would put pressure on the overall economy and that any major increases in the price of gas would impact consumer spending adding to recession concerns. A deep decline could emerge. ...