...................I Didn't Get My Shorts On
After putting in a bullish large inverse spike early in the session WMT did an Elliott Wave up down up, then Wave 4 down took out Wave 2,
see http://finance.yahoo.com/q/ta?s=WMT&t=1d&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c==, so, WMT failed to do a healthy intraday Elliott Wave 12345 up down up down up upcycle, and, I didn't short it today.
On Monday if WMT fills it's downside gap at 47.60 early on I'll look to trade WMT and possibly also the ultra long SPX ETF SSO. I'll wait for a significant intraday Wave 1 type upcycle and look to buy in Wave 2 down. If WMT and SPX pop early on I'll look to short WMT and buy the ultra short SPX ETF SDS.
WMT will very likely fill it's downside gap at 47.60, especially since Wave A of Wave C bottomed at 47.77, see http://stockcharts.com/charts/gallery.html?wmt. See SPX's 1 day chart at http://finance.yahoo.com/q/ta?s=%5Espx&t=1d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c==.
The WMT Lead Indicator was a modestly bullish +0.13% versus SPX today, but, the gap narrowed substantially toward session's end, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=1d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC.
The NEM Lead Indicator was a bearish -0.87% versus the XAU today, and, it became more bearish toward session's end, see http://finance.yahoo.com/q/ta?s=%5EXAU&t=1d&l=on&z=l&q=l&p=&a=&c=%5Ehui,nem. If I'm not trading WMT/SDS or WMT/SSO early on Monday I may short GLD (gold ETF) or GDX (gold miners ETF).
GNBT hit a short term Wave 3 buy signal today, when it broke it's Wave 2 downtrend line and rose substantially on strong volume (2.82 million shares) to 1.82 from yesterday's likely Wave 2 cycle low at 1.52, see http://stockcharts.com/charts/gallery.html?gnbt. Wave 1 of the short term Wave 3 appears to have peaked at 1.82 (bearish double top) today, see http://finance.yahoo.com/q/ta?s=gnbt&t=1d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c==. I'll look to buy GNBT after a very short term Elliott Wave ABC down up down downcycle.
That's all for now. Ciao. ....... http://www.JoeFRocks.com/ .
see http://finance.yahoo.com/q/ta?s=WMT&t=1d&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c==, so, WMT failed to do a healthy intraday Elliott Wave 12345 up down up down up upcycle, and, I didn't short it today.
On Monday if WMT fills it's downside gap at 47.60 early on I'll look to trade WMT and possibly also the ultra long SPX ETF SSO. I'll wait for a significant intraday Wave 1 type upcycle and look to buy in Wave 2 down. If WMT and SPX pop early on I'll look to short WMT and buy the ultra short SPX ETF SDS.
WMT will very likely fill it's downside gap at 47.60, especially since Wave A of Wave C bottomed at 47.77, see http://stockcharts.com/charts/gallery.html?wmt. See SPX's 1 day chart at http://finance.yahoo.com/q/ta?s=%5Espx&t=1d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c==.
The WMT Lead Indicator was a modestly bullish +0.13% versus SPX today, but, the gap narrowed substantially toward session's end, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=1d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC.
The NEM Lead Indicator was a bearish -0.87% versus the XAU today, and, it became more bearish toward session's end, see http://finance.yahoo.com/q/ta?s=%5EXAU&t=1d&l=on&z=l&q=l&p=&a=&c=%5Ehui,nem. If I'm not trading WMT/SDS or WMT/SSO early on Monday I may short GLD (gold ETF) or GDX (gold miners ETF).
GNBT hit a short term Wave 3 buy signal today, when it broke it's Wave 2 downtrend line and rose substantially on strong volume (2.82 million shares) to 1.82 from yesterday's likely Wave 2 cycle low at 1.52, see http://stockcharts.com/charts/gallery.html?gnbt. Wave 1 of the short term Wave 3 appears to have peaked at 1.82 (bearish double top) today, see http://finance.yahoo.com/q/ta?s=gnbt&t=1d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c==. I'll look to buy GNBT after a very short term Elliott Wave ABC down up down downcycle.
That's all for now. Ciao. ....... http://www.JoeFRocks.com/ .
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, SPX, XAU
posted by Joe Ferrazzano at
1:18 PM
