Monthly Archives: March 2017

DJIA E-Mini Intraday Update



The markets are slowly grinding down in a South Easterly direction. These choppy declines can produce surprise counter rallies where the majority thinks they are going on the next leg up in stocks. When you look at this with a weekly chart, it has barely moved, so it justifies scraping the bottom of the degree list.   I moved the Micro degree down which gave us room for the first set of waves in Submicro degree, still keeping the smallest degree at the Miniscule level. 

I have a one diagonal decline, and due to space limitations I counted it as an impulse. In reality, it’s just another diagonal wave structure. So far in this decline I kept it within 3 degree levels, and the time will come when I have to add 3 more degree levels.  For this stock bubble to have burst, it has to continue its choppy gyrations. It will be a challenge to get close as we really don’t know if we are going to get a flat or a zigzag in Cycle degree.  I favor the flat, but I’m sure the markets will throw something else at us, just to confuse the best wave analyst professionals.  

Wave analysts act like a herd as well,  as it is pretty easy to see all the micro, mini, mini and other wave counts, being counted at the atomic degree level. This is useless wave counting,  if we don’t have a clue what the largest degree may be.  My goal has always been to look for and to confirm the highest realistic degree.  This degree is Cycle degree,  as I spent well over a decade chasing SC and GSC degree.  Many times I have already given descriptions of exactly the wave positions we need to correct the three largest degree levels, many are drawn out as idealized charts and templates. 

Short term we are still seeing a bit of a rally in the markets, but it should eventually trend lower. 



US Dollar Intraday Review: Last Chance



The US dollar has rallied a bit further than I would like, and this is a signal to review the wave count again.  There may be a desperate attempt to break to new highs, and this wave count would allow it to do just that.   The idea that the USD can still falter in the next few days is never thrown out, as in this case two wave counts are in effect. I make my intraday charts fresh every day, and like to keep one wave count on one chart. 

Most of the time there are always two wave counts in the running, and it is only at the last minute that any wave count, gets down to only one choice. 

We are about three trading days away from the full moon this Sunday, so that may provide us with another turning time period. Full moons are usually bullish for stocks, but I have seen the markets charge right through the new moon and the following full moon as well.

Only time will tell if this top will hold, as it may take the rest of the week to find out.