SPX (S & P 500) Huge Wave 5 Of Wave 5 Rollover Upcycle Since 3-30-09 Is Doing Wave 5!
SPX's (S & P 500) huge Wave 5 of Wave 5 rollover upcycle since 3-30-09 has now done an up down up down up pattern!, see http://stockcharts.com/charts/gallery.html?%24spx, and, a huge final Wave 5 spike move is in progress (Wave 5 of Wave 5 of Wave 5!).
The S & P 500 (SPX) countertrend Wave B Monthly Upcycle since 3-6-09 Elliott Wave count is: A Wave 1 cycle high/red spike occurred on 3-9, a Wave 3 cycle high/red spike occurred on 3-16, then, a deceptive huge Wave 5 Elliott Wave up down up down up rollover upcycle began on 3-17-09, which is in a peaking mode now/maybe on Monday, see http://finance.yahoo.com/q/ta?s=^GSPC&t=5d&l=off&z=l&q=c&p=&a=p12,fs,w14&c=.
SPX's (S & P 500) countertrend Wave B Monthly Upcycle since 3-6-09 is Wave B up of the Intermediate Term Downcycle since 1-6-09, see http://stockcharts.com/charts/gallery.html?%24spx.
A huge story today (forget Wells Fargo) is broad market Lead Indicator Walmart's (WMT) huge very bearish breakaway gap down from 52.61 at the open, see http://finance.yahoo.com/q/ta?s=wmt&t=5d&l=off&z=l&q=c&p=&a=p12%2Cfs%2Cw14&c=. Also, note WMT's very large bearish spike that occurred shortly before session's end, and, see WMT's large bearish spike on today 4-9's candle at http://stockcharts.com/charts/gallery.html?wmt.
The broad market Walmart (WMT) Lead Indicator was a super bearish -7.52% versus SPX (S & P 500) today/on 4-9.
The broad market Walmart (WMT) Lead Indicator is super bearish since 3-6-09 (countertrend Wave B Monthly Upcycle began), at -7.52% versus SPX (S & P 500) today/on 4-9, -0.76% on 4-8, +0.44% on 4-7, +0.14% on 4-6, -0.67% on 4-3, -1.32% on 4-2, -0.28% on 4-1, -0.65% on 3-31, +1.94% on 3-30, +1.67% on 3-27, -0.24% on 3-26, +0.22% on 3-25, +1.23% on 3-24, -3.27% on 3-23, +1.26% on 3-20, +0.33% on 3-19, -1.21% on 3-18, -0.75% on 3-17, -0.44% on 3-16, -0.26% on 3-13, -0.95% on 3-12, -2.73% on 3-11, -3.93% on 3-10, -1.86% on 3-9, -1.81% on 3-6.
SPX (S & P 500) experienced a sharp +2.16% rise in complacency/-2.16% decline in the wall of worry today 4-9, since SPX (S & P 500) rose +3.81% versus the SPX Volatility Index VIX falling -5.97%, which points to likely severe SPX (S & P 500)/market weakness early on Monday 4-13-09.
Fellow gold/silver bugs, no change in the assessment from yesterday. GDX/HUI/XAU are doing a likely large Wave 5 down of Wave A down (Inverse Elliott Wave 12345 down up down up down pattern), of the Wave 2 Intermediate Term Downcycle since 3-26-09 for the XAU (very early April for GDX/HUI), see the XAU at http://stockcharts.com/charts/gallery.html?%24xau. For GDX/HUI, see GDX's daily chart.
FAZ (3x Finance Bear ETF) is a great opportunity to probably make a lot of money now (probably for the next few weeks/months), which is why so many are trading it (approaching a humongous 156 million shares traded today, in after hours trading). Not a recommendation. FAZ is at 10.71 after hours.
Nothing discussed on this Blog is a recommendation, or, should be construed as investment advice.
Follow my live updates at Twitter! Highly recommended. I'm tradethecycles at Twitter. Joining is easy, then you follow me by clicking follow after doing a search for tradethecycles. Or, you can simply follow my Twitter web site at http://twitter.com/tradethecycles. I just started using Twitter recently. I'm going to try to make timely live updates at Twitter and make it a real time extension of this Blog. Also, I'll opine about other subjects.
That's it for today. Have a happy Easter to my fellow Christians, have a good weekend to everyone.
.......http://www.JoeFRocks.com/
NEM XAU HUI
The S & P 500 (SPX) countertrend Wave B Monthly Upcycle since 3-6-09 Elliott Wave count is: A Wave 1 cycle high/red spike occurred on 3-9, a Wave 3 cycle high/red spike occurred on 3-16, then, a deceptive huge Wave 5 Elliott Wave up down up down up rollover upcycle began on 3-17-09, which is in a peaking mode now/maybe on Monday, see http://finance.yahoo.com/q/ta?s=^GSPC&t=5d&l=off&z=l&q=c&p=&a=p12,fs,w14&c=.
SPX's (S & P 500) countertrend Wave B Monthly Upcycle since 3-6-09 is Wave B up of the Intermediate Term Downcycle since 1-6-09, see http://stockcharts.com/charts/gallery.html?%24spx.
A huge story today (forget Wells Fargo) is broad market Lead Indicator Walmart's (WMT) huge very bearish breakaway gap down from 52.61 at the open, see http://finance.yahoo.com/q/ta?s=wmt&t=5d&l=off&z=l&q=c&p=&a=p12%2Cfs%2Cw14&c=. Also, note WMT's very large bearish spike that occurred shortly before session's end, and, see WMT's large bearish spike on today 4-9's candle at http://stockcharts.com/charts/gallery.html?wmt.
The broad market Walmart (WMT) Lead Indicator was a super bearish -7.52% versus SPX (S & P 500) today/on 4-9.
The broad market Walmart (WMT) Lead Indicator is super bearish since 3-6-09 (countertrend Wave B Monthly Upcycle began), at -7.52% versus SPX (S & P 500) today/on 4-9, -0.76% on 4-8, +0.44% on 4-7, +0.14% on 4-6, -0.67% on 4-3, -1.32% on 4-2, -0.28% on 4-1, -0.65% on 3-31, +1.94% on 3-30, +1.67% on 3-27, -0.24% on 3-26, +0.22% on 3-25, +1.23% on 3-24, -3.27% on 3-23, +1.26% on 3-20, +0.33% on 3-19, -1.21% on 3-18, -0.75% on 3-17, -0.44% on 3-16, -0.26% on 3-13, -0.95% on 3-12, -2.73% on 3-11, -3.93% on 3-10, -1.86% on 3-9, -1.81% on 3-6.
SPX (S & P 500) experienced a sharp +2.16% rise in complacency/-2.16% decline in the wall of worry today 4-9, since SPX (S & P 500) rose +3.81% versus the SPX Volatility Index VIX falling -5.97%, which points to likely severe SPX (S & P 500)/market weakness early on Monday 4-13-09.
Fellow gold/silver bugs, no change in the assessment from yesterday. GDX/HUI/XAU are doing a likely large Wave 5 down of Wave A down (Inverse Elliott Wave 12345 down up down up down pattern), of the Wave 2 Intermediate Term Downcycle since 3-26-09 for the XAU (very early April for GDX/HUI), see the XAU at http://stockcharts.com/charts/gallery.html?%24xau. For GDX/HUI, see GDX's daily chart.
FAZ (3x Finance Bear ETF) is a great opportunity to probably make a lot of money now (probably for the next few weeks/months), which is why so many are trading it (approaching a humongous 156 million shares traded today, in after hours trading). Not a recommendation. FAZ is at 10.71 after hours.
Nothing discussed on this Blog is a recommendation, or, should be construed as investment advice.
Follow my live updates at Twitter! Highly recommended. I'm tradethecycles at Twitter. Joining is easy, then you follow me by clicking follow after doing a search for tradethecycles. Or, you can simply follow my Twitter web site at http://twitter.com/tradethecycles. I just started using Twitter recently. I'm going to try to make timely live updates at Twitter and make it a real time extension of this Blog. Also, I'll opine about other subjects.
That's it for today. Have a happy Easter to my fellow Christians, have a good weekend to everyone.
.......http://www.JoeFRocks.com/
NEM XAU HUI
Labels: DUG, GDX, Gold, Gold Stocks, HUI, NDX, NEM, RUT, Silver, Silver Stocks, SPX, SRS, XAU, XOI, XOM
posted by Joe Ferrazzano at
1:33 PM
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