Cycles are a tool and should not be used to the exclusion of other tools. There is always the possibility (high probability long term) that the data will be misinterpreted or a relevant fact over looked. So use cycles to check your analysis, not as the only reason to make a decision. Interpretation is the opinion of the author and may be incorrect and should be viewed in that light.
Friday, July 1, 2016
Weekly outlook July 5, 2016
Bottom should be set and new trend up starting as multiple shorter cycles turn up. During July odds are we see some new highs in popular indexes. Maybe highs next week (depending on data points).
This week a High for July 5, wave V-III-1 up, and then a Higher Low into July 12 is my base scenario. Enjoy your weekend! http://tripstrading.com/2016/07/02/sp500-follow-heart/
Based on cycles and Elliott wave, I expect a High today for wave V-III-II-b up. Target is to form the right shoulder @2065 of an inverted SHS pattern and form wave c down into JUL 12. Invalid if we set Higher Highs > JUL 5.
Last chance to get in on the long side for targets of 2300 in August/September?
This week a High for July 5, wave V-III-1 up, and then a Higher Low into July 12 is my base scenario.
ReplyDeleteEnjoy your weekend!
http://tripstrading.com/2016/07/02/sp500-follow-heart/
Based on cycles and Elliott wave, I expect a High today for wave V-III-II-b up.
ReplyDeleteTarget is to form the right shoulder @2065 of an inverted SHS pattern and form wave c down into JUL 12. Invalid if we set Higher Highs > JUL 5.
Last chance to get in on the long side for targets of 2300 in August/September?
http://tripstrading.com/2016/07/07/sp500-shoulder-head-shoulder-bullish-engulfing-wave-b-up-and-gap-2102-94/
Always takes a bit of time to form a bottom (or a top) ... almost time to move up, a new high seems within possibilities.
ReplyDeleteWould you kindly post a cycle chart for DB (Deutsch Bank)?
ReplyDeleteThanks!
Haejin
Take a look at http://stockcharts.com/h-sc/ui?s=DB
ReplyDeleteSet up chart (time span for example) and then use annotate to draw cycles/ trend lines etc. You may discover analysis you prefer over my attempts.
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ReplyDelete