Thursday, November 7, 2024

Faster than a speeding bullet...

...more powerful than a locomotive...able to leap tall buildings in a single bound. The opening of the original version of the Superman TV program (Adventures of Superman) reminds us of the movement of equity prices of the last few days. Prices did not even really pause much to interact with the 18-day SMA before they headed for the upper daily Bollinger Band.


Still in all, it looks like a fairly typical Elliott Wave with alternation between waves ii and iv, with the second wave as a sharp and the fourth wave as a longer-in-time sideways sequence. Nothing says the up wave is entirely over, yet, and tomorrow is Friday. But, how much more news can one pack into a week? Tomorrow has Preliminary Consumer Sentiment, mortgage delinquency information, and some FED speakers.

Let's see what it brings. Have an excellent start to the evening,

TraderJoe


5 comments:

  1. SPY 10-min: Getting quite close to 5 = 1. Shown by Fibo ruler.

    https://www.tradingview.com/x/LzvOwz3y/

    TJ

    ReplyDelete
  2. quick question, when you show the ewo oscillatorfor a 4th wave, you are using a dialy chart with 66 candles. why? if you use a 4 hour chart with 125 candles, the EWO signature shows we are in a new wave, not a fifith wave.
    https://postimg.cc/BLrzhfy0

    ReplyDelete
    Replies
    1. incorporating into the longer term count https://postimg.cc/BLrzhfy0

      Delete
    2. The momentum on this wave up seemed quite strong for a 5th, Very commodity- like

      Delete
  3. A new post is started for the next day.
    TJ

    ReplyDelete