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May 2012 | Page 3 of 7 | Elliott Wave Analytics

  • Sell Signal Confirmed: Initial Targets Set.
    By on May 22, 2012 | 3 Comments3 Comments  Comments
    In this past weekend’s missive we stated that: “There is very little doubt that the confirming sell signal will occur by the end of this week, or, early next week at the latest. Enough deterioration has occurred within the market at this point that it is now just a function of time.̶...
  • Portfolio Update: Has Facebook Broken Morgan Stanley?...
    By on May 21, 2012 | 2 Comments2 Comments  Comments
    As markets continued their prices decline lower through further support levels, it now appears inevitable that the S&P500 is likely to test the next major level of support below at 1275. With markets moving lower we have trimmed the beta 3.0+ portfolio by 2 more instruments as at Friday May 18, ...
  • Recession: ECRI Leading Index Declines Further!
    By on May 21, 2012 | 1 Comment1 Comment  Comments
    The Weekly Leading Index (WLI) growth indicator of the Economic Cycle Research Institute (ECRI) is now at 0.4 as reported in today’s public release of the data through May 11, up from the previous week’s revised 0.0. However, the underlying WLI dropped from 125.4 to 124.5 (see the fifth ...
  • This Is Crazy! Bring Back Glass-Steagall!
    By on May 21, 2012 | No Comments  Comments
    Investigations after the 1929 stock market crash revealed widespread conflicts of interest and outright fraud in the activities of financial firms leading up to the crash, and the worst financial catastrophe the country has ever experienced, the Great Depression. It was clear that financial firms ha...
  • Europe’s Depressing Prospects…
    By on May 21, 2012 | 1 Comment1 Comment  Comments
    Normally I don’t like to write about European prospects in the midst of a very rough patch in the market because in that case there isn’t much I can say that isn’t already being said.  I find it more useful to wait for those recurring periods in which the markets recover and optimism rises...
  • Flash Alert: Best Stock Market Indicator Ever Tanks!
    By on May 20, 2012 | 3 Comments3 Comments  Comments
    The $OEXA200R (the percentage of S&P 100 stocks above their 200 DMA) is a technical indicator available on StockCharts.com that can be used to forecast conservative entry and exit points for the stock market. The OEXA is used to find the “sweet spot” time period in the market when yo...
  • Risk Ratio Indicates More Correction Coming!
    By on May 20, 2012 | No Comments  Comments
    The current market correction should not come as a surprise to any one. There has been consistent and substantial evidence that the rally that began last October was unsustainable. We discussed the coming correction beginning in March (see here, here, here and here ). The question now is becoming wh...
  • Panic Like It’s 2009!
    By on May 19, 2012 | 1 Comment1 Comment  Comments
    As everyone is well aware, Europe is an absolute mess and while the U.S. stock market has been remarkably resilient, it has finally succumbed to news across the Atlantic and is now the final region to experience a decline. The U.S. economy has been fairly strong this year with a continued improveme...
  • Market Correction Lows Might Still Be Weeks Away!
    By on May 19, 2012 | No Comments  Comments
    The current correction is creating very oversold conditions on intermediate-term indicators, like the ITBM (breadth) and ITVM (volume). While oversold indicators often signal final price lows for a correction, extremely oversold readings are a sign that the price low for the correction probably won...
  • Gold Stock Capitulation
    By on May 19, 2012 | 2 Comments2 Comments  Comments
    Gold stocks have been pummeled mercilessly this month, their price action looking almost apocalyptic. The psychological stress spawned by such extreme weakness is intense, breaking the wills of this sector’s few remaining bulls. This week their selling cascaded into a full-blown capitulation, a ma...
  • Facebook: Over Hyped and Over Priced?
    By on May 19, 2012 | 1 Comment1 Comment  Comments
    With Facebook slated to start trading, I feel it is appropriate to brush off some of the research and opinion that can help subscribers wade through the sell side waters. To wit, CNBC reports Facebook Faces User Distrust, Advertising Apathy: Poll: More than half (57 percent) of Facebook users poll...
  • Economic Disaster: The Great China Real Estate Crash!
    By on May 18, 2012 | No Comments  Comments
    Inquiring minds are reading an excellent report China Real Estate Unravels by Patrick Chovanec, a professor at Tsinghua University’s School of Economics and Management in Beijing, China. The report confirms many of the things I said would happen in regards to the Chinese real estate bubble and...
  • Greek Tragedy: Collapse Of The Athens Index!
    By on May 18, 2012 | 2 Comments2 Comments  Comments
    I just finished reading a couple of commentaries by familiar pundits at Project Syndicate on the ongoing disaster in Greece. PIMCO’s PMohamed El-Erian asks the rhetorical question Who is Responsible for the Greek Tragedy? Nouriel Roubini states unequivocally that Greece Must Exit the Eurozone....
  • Oversold: Downside Pressure Nears Decade High!
    By on May 18, 2012 | 2 Comments2 Comments  Comments
    One of the indicators we track is Down Pressure.  It’s currently flirting with its most extreme levels of the past decade. The indicator looks at the component stocks of the S&P 500 and computes how many points gained/lost were lost, and also how much of the volume flowing into up/down issues...
  • [VIDEO]: A View Of The 1929 Crash!
    By on May 17, 2012 | 1 Comment1 Comment  Comments
    This is a very interesting video commentary about the 1929 Crash.  What you will find interesting is that the attitudes just prior to the crash are the same as they were in 2008 which can be summed up as “This Time Is Different.” This is episode 5 from the series Cosmopolis and inclu...
  • What Are The Odds Of Recession?
    By on May 17, 2012 | 1 Comment1 Comment  Comments
    Earlier this week the Wall Street Journal posted the results of its May Survey of economists. Naturally I charted some of the data, focusing on GDP, but I held off on sharing it until we got the latest Federal Reserve GDP projections, published at 2 PM today. Here’s a link to the Journal’...

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