$SPY playbook on 1/31/19

$SPY did what it was supposed to do today after moving past the 4th wave heading into the 5th and final wave of the wave in the largest degree in purple. What we saw today was the 3(5) and that is not done yet because we still have 5(5) to finish looks like tomorrow. On the 15 min chart As of writing this article the "bc" has not completed. Will complete today from projecting the "AB" to 100% the BC looks to complete at $268.58. Wave A had a 5 internal move down…Read more

A dark cloud will shadow the stock market from here on till it breaks over the all time high 293.94

Robert Prechter https://www.nytimes.com/2010/07/04/your-money/04stra.html one person who popularized Elliott wave theory saw the 2008 decline in stock market as the end of 5th wave an the beginning of bear market and he rightfully get demonized for advising people to miss out the longest bull market in history. That is the beauty and curse of Elliott wave it has a way of keeping the analyst on their tippy toe all the time, an ultimate slight of hand artist that is capable of doing a 180 degree turn at any moment. However that does not mean…Read more

$SMH the Elliott wave count on this ETF

SMH has been a harbinger for the wider market for some time now since it is the semiconductor ETF and when we say technology we essentially mean two things, hardware technology and software technology. They are like each hand in a body that needs to come together to make noise (clap). The semiconductor essentially tells where the broader tech market or the $SPY is going. On a 15 min - 2 hour chart the count we have below is the primary count. As of right now at 12.30 pm on 1/8/19 we are…Read more

Moment of truth on the rules of Elliott Wave

The $SPY has been on a tear with 2 consecutive days of nearly 1000 point moves and now we are coming to some crucial resistance levels. 1 is the 50% retrace of the 3rd wave move down and that is $251.40. Now the bottom of wave 3 is $253.36 meaning that the retrace we have seen so far has $2 more to go before coming down. After the As of Monday the 31st we had a bull flag set up and looks like the move up is going to be the 5th wave…Read more