Many traders get so involved with the market on a daily or even an intraday basis, that they somehow lose out on the bigger picture. Weekly charts are enormously helpful in giving clues to the future direction of the market.
In today’s video we examine one of the biggest markets in the world, the S&P 500, using a weekly chart. The video runs about two minutes in length and I think you will find it both educational and informative.
Mainstream financial analysts always look for ways to explain market action through news stories and events. Conventional wisdom states that news and inter-market correlations cause market booms and busts, but such explanations rely on selective presentation of the data. In this video, Elliott Wave International’s Asian-Pacific Financial Forecast Editor Mark Galasiewski shows you how Elliott wave analysis was able to predict Hong Kong’s late ’90s mania and its aftermath in real time — without looking at the news or the market’s “fundamentals.”
For the past 12 months I have been testing a theory. It has to do with Elliott Wave, but I have not been keeping a count…which would seem to fly in the face of using Elliott Wave at all. I have been very interested in Elliott Wave for a couple of years now, but I do have to say, the part I like about it the least, is the use of labels and counting waves.
Maybe I will elaborate on this more in the future, but for now, my testing of this theory over the past year has yielded what may be a useful indicator. On quite a number of occasions this year it has proven itself if I have remained patient, the two most recent being around the July low of 1010-1030 on the SPX when my indicator suggested price would advance to 1080ish, and the 20th July low of 1056, where my indicator suggested higher prices to come at least to 1100.
The indicator does not provide entry points; it suggests probable future prices, in which case means using an effective and personal means of entry, one such entry method I use is explained at my web site www.elliottwavemadesimple.com
Now of course, now that I am sharing this now and for the first time putting my neck on the line (well, it is not the first, here was the first for putting my neck on the line: http://financialmarketfisherman.com/?p=63), it’s very possible I will be proven wrong and damage any reputation I may have gathered in the short few minutes it has taken you to read this
However, one must start somewhere, and as I say to my kids, at least I am doing it.
So, with that said, my indicator is suggesting on the SPX that at a minimum, 1070 will be reached and quite probably, 1100. Here is a simple chart.
My biggest test is not whether it makes it to either level or not, my biggest test is whether or not I am able to put my neck on the line again, if this indicator fails this time around!
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In this video we show a perfect 4T’s intraday 4 point check system trade using MACD, Stochastics, Bollinger Bands, Moving average and RSI on the 5 minute and 1 minute charts.
The single most convenient untruth about the 2008 (and counting)
financial crisis is that it was unforeseen. For two years policymakers
have insisted “There was no way to know ahead of time” that
the liquidity boom would come to a screeching halt. Back in November
2008, in fact, the usually tight-lipped Queen of England herself
publicly described the turmoil of international markets as “awful” and
openly asked a panel of experts from the London School of Economics “Why
did nobody notice?”
Her Majesty is right: Most financial authorities did
NOT notice the crisis before it was too late. Comedy Central’s “The
Daily Show with Jon Stewart” of all places provided the
most poignant evidence: A March 2009 video montage
shows executives and economists from the world’s leading financial
firms repeatedly forecasting continued upside strength in stocks,
plus renewed bull market growth in financials — right as debt
markets came unhinged and the US stock market headed into a 50%-plus
selloff.
Dubbed the “8-Minute Rap” (after the “18-Minute
Gap” of Nixon’s Watergate tapes), the Daily Show video feature
sent an equally powerful message, as the clip
below makes plain.
Yet even as the mainstream authorities failed to detect the
economic earthquake moving below their own feet, somebody did “notice” well
in advance. That person was EWI’s president Bob Prechter.
The clip below is from a 2007 Bloomberg interview.
Clear as PLAY, the foreseeable nature of the crisis emerges from
Bob’s October 19, 2007 interview.
As the historic trend change began to unfold, Bob issued this
timely insight:
“We’ve seen the first crack in the credit structure
with a huge drop in commercial paper… These are the harbingers
of a change toward the downside for the stock market, commodities
including oil, and the debt market itself.”
This
article, The Economic Crisis No One Saw Coming: A Convenient Untruth, was syndicated by Elliott Wave International. EWI
is the world’s largest market forecasting firm. Its staff
of full-time analysts lead by Chartered Market Technician Robert
Prechter provides 24-hour-a-day market analysis to institutional
and private investors around the world.
In this video, we demonstrate the use of waves and overlap, and lack of overlap, to determine trend, trend changes and ranges for trading the 2S4H trading system. The 2S4H trading system also utilizes the use of stochastics, support and resistance, 123 breakouts, 4 hour, 15 minute and daily charts. This trading system and many more freely available at http://www.atradersuniverse.com
Never miss another major move again, and this headline proves it
Severe Russian drought forces grain export ban – Moscow, Russia (CNN) — As Russia reels from the worst drought in nearly 40 years …
The wheat market is the hottest market in the world right now due to severe drought in Russia. But how did MarketClub’s “Trade Triangle” technology do in this rocket-to-the-stars market?
MarketClub’s “Trade Triangle” technology received a “go long” wheat signal over 6 weeks ago. Wheat was trading at $5.17 back then. It is now trading at over $8.00 a bushel.
Wheat is one of the six key components in MarketClub’s World Cup Portfolio (WCP – formerly World Commodity Portfolio). In the twelve quarters we have tracked this portfolio, wheat has been profitable in 11 out of those twelve quarters. This quarter looks to be a bonanza with profits in excess of $11,000 per contract.
In the this video I show you the move, the “Trade Triangles,” and the results. It is a not to be missed video.
As always our videos are free to watch and there are no registration requirements.
Please feel free to comment on this and other videos.
Trades using the 4T’s model EOD relative strength system employed by some of our members. These trades occured on the Australian stock market and this system utilizes MACD, RSI, 123 Breakouts and Relative Strength, and daily and weekly charts. This system and many more are freely available at http://www.atradersuniverse.com.
Trades using the 4T’s model intraday 4 point system employed by some of our members. This system and many more are freely available at http://www.atradersuniverse.com
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