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The DJIA appears to be nearing the peak of the post Horizontal Triangle rally. There's some doubt as to where the Horizontal Triangle ended. The second bottom made on 11/18/16 looks like the better of the two because the sharp move up after that bottom is more in the nature of what usually happens after a Horizontal Triangle. If the earlier bottom is the...

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Today 11/21/16 the DJIA moved above 18934.10 confirming completion of an Elliott wave Horizontal Triangle. The DJIA is now in wave (5). Usually after a Horizontal Triangle the post triangle move up, the 5th wave is equal to the widest part of the triangle. In this triangle it is 128.00 added to the wave (4) bottom 18853.80 targets DJIA 18981.80. Allowing for...

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The Elliott wave Horizontal Triangle pattern that was illustrated in my 11/16/16 post appeared to be complete. Today 11/17/16 the DJIA choppy side ways pattern continued. There are two possible termination points, the first one is at DJIA 18,845.30 - this would be a five wave Horizontal Triangle. The second possible termination point is at DJIA 18,864.10 - this...

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Today 11/16/16 it looked like the FTSE had chance to rally instead it declined. Watch 6709 if the FTSE breaks below this level it could trigger a new decline that could be as large as what I labeled wave (1) Mark

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Today 11/16/16 the DJIA had the possibility a truncated 5th wave top could have been in place. The subsequent decline was shallow and choppy, which is typical of a corrective pattern. Additionally the pattern taken appears to be an Elliott wave Horizontal Triangle. If the pattern is complete a post triangle trust up is most likely to begin on the open...

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In my last DJIA post I forgot to mention the possibility of the DJIA failing to move above its high made on 11/14/16. In Elliott wave this is called a truncated 5th wave. Today 11/16/16 the S&P 500 futures are down so the high could be in place as of 11/15/16. If the top is in place already trading the open will be a harder trade because you have to chase...

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The FTSE is still on track to complete an A-B-C counter trend rally. If FTSE peaks on 11/16/16 it may correspond to a peak in the DJIA. Mark

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The wave structure for the DJIA is nearly complete. High probability the DJIA could peak in the first hour of trading after 9:30 AM ET Price range 18,934 to 19,000. Mark

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The FTSE could complete a three wave contra trend rally on 11/15/15. Mark

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The DJIA appears to be nearing completion of a five wave Elliott pattern that began on 11/4/16. Top could come on 11/15/16 near DJIA 19,000. Mark

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The FTSE appears to have completed or is close to completing a five wave Elliott pattern from the high made on 11/10/16. Both 15 minute RSI and MACD have bullish divergences. Price on 11/11/16 came into the area of the 11/9/16 micro crash bottom. Mark

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July of 2016 the US 30 Year Treasury Yields (TYX) hit a multi decade low with bullish divergences on the monthly RSI and MACD Histogram. Recently the monthly MACD line has had a bullish cross-over while prices have broken above a declining trend-line from late 2013. This implies a bull market in US treasury rates that will last well into 2017. Minimum price...

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In my last post I noted possible Nasdaq resistance at the .786 retracement level and a declining trend-line. The Nasdaq moved beyond both implying more upside in the near term. The DJIA has the clearest wave count and appears to be near completion of a Elliott wave Ending Diagonal from the August 24, 2015 bottom. A Fibonacci 89 calendar days after the 8/15/16...

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My election call worked out better than my market call. While the votes were being counted stock futures plunged. On November 9th after Trump was declared winner - the cash market dropped for one minute before starting an all day rally. Near term there could be more rally up the declining trend line, and/or a .786 retrace of the Nasdaq decline from the high of...

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The Nasdaq has the clearest wave count of the main US stock indices and appears to require at least one more decline to complete the Elliott wave pattern. The highest probable count is a double zigzag down from the 9/22/16 peak. If the pattern is correct it will retrace to at least the 11/4/16 bottom at 5034.40. Early on 11/8/16 the Nasdaq could rally to the...

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On 11/4/16 the daily SPX Slow Stochastic and RSI reached the oversold zone. Also the SPX hit the 200 day Simple Moving Average which is a logical area for the bulls to defend. Tonight 11/6/16 in overnight futures the S&P 500 E-mini is up 25 points. There is a good chance the rally could continue into Tuesday 11/8/16 which is the US elections. The result of the...

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There was a chance today, 11/2/16 for the SPX and other main US stock indices to rally in to the FOMC announcement. Early in the day there was a failed attempt at a move above the late day bounce made on 11/1/16. After the FOMC the SPX made a new decline low and register significant bullish divergences on the 30 min RSI and MACD. Strong resistance is now at...

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There is a tight cluster of three Fibonacci points in the SPX 2119 -2120 area. 1) .236 retrace of the move 2193 to 2097 = 2120.50 2) .382 retrace of the move 2154 to 2097 = 2119.60 3) .618 retrace of the move 2133 to 2097 = 2119.80 This 2119 - 2120 zone is also prior support. FOMC announcement is at 2 PM ET on 11/2/16 if SPX rallies into 2119 - 2120 during...