That looks like an algorithm gone wrong...

Elliott wave outlook

Ej is shooting a beam into space!

Elliott wave outlook

Thanks Schickeria - good old Babypips.com! Yes, hidden divergence - this is what I call "reverse" divergence because the indicator/oscillator is making HHs or LLs contrary to price. So now I know the real name. What I like about hidden divergence is ...

Elliott wave outlook

You nailed the cusp there! I am interested: what made you choose that price level? I ask because there is a Fib level below at 1.3330.. Also, I am glad to see your chart of EU with a daily pivot on there (my platform's Pivot points are unusable) - I ...

Elliott wave outlook

While we wait for something to happen with PA, what is Hidden divergence?

Elliott wave outlook

The man at the bank - he is a crook!

Elliott wave outlook

Pity 76,4% is the fib ratio that just doesn't "ring true" same as the others As for hidden divergences... Check the RSI on all of today's EJ PA - its contracting to the centreline no matter what price does! Edit: I meant to say RSI divergences ...

Elliott wave outlook

Infinitus, thanks for having a look. My platform doesn't have Awesome Oscillator - will another oscillator/indicator do?

Elliott wave outlook

EJ on its way up to 125.6x S&P in wave 5 of wave 3 of C (initial target 1520 for wave 3 and then 1525 for final wave 5) Dow crossing 14,000 again and indicators diverging massively Remember to plan beyond this trade. When all of the above top out, ...

Elliott wave outlook

Happy you pointed that out - ending diagonal would explain a lot about today's PA

Elliott wave outlook

Fair enough. I see The Book warns against labeling a flat as "running" (EWP p49) The downforce is not strong with this one (EJ)

Elliott wave outlook

well EJ hit 124.50 but is not going down strongly... maybe the correction will continue higher or maybe compound. S&P and Dow are surging upwards at the moment

Elliott wave outlook

EJ Seems a zigzag is unfolding up from 123.40. Assuming wave A (124.12 - 123.40 = 62 pips) = wave C we have a rough target of 124.50 (23.6% of entire 5w) for the end of the correction. Lets see... Edit: I'm wrong - wave C cannot be a zigzag (it must ...

Elliott wave outlook

I think irregular also, but where will b end? seems 123.40 is the "demand zone" (there, I've always wanted to say that)

Elliott wave outlook

I like that: "more down" My wife sometimes looks at my trading screen and when she sees some downtrends she asks: "happy finished?"

Elliott wave outlook

EJ seems to be making some kind of flat - it could be running or expanded as shown on the chart. Selling pressure is causing this, but the down force could be losing steam as shown by the divergence on the MACD and RSI image

Elliott wave outlook

Thanks Terra, I try my best but these South African indexes are volatile and over-exuberant. I expect the ALSI and SA40 to both top in tandem with the DJI and SPX. These events are imminent. Dow @ ~14,050 and S&P at 1525 (see chart below - put my ...

South Africa 40 index

S&P500 Luis has been showing a critical chart of how the S&P is heading for 1525 by Fib projection of its HHs. EWI have been expecting a turn down for at least a year... now they also are calling for a top at 1525. I put on my Fibonacci hat and here ...

Elliott wave outlook

As per my previous edit: seems 5 waves are in. A zigzag will get us to 61.8% @ 1.2610. Anything else... well let's see what we get image

Elliott wave outlook

Slight concern at the MACD diversion on that action. The 3rd subwave of wave 3 typically puts in a max MACD value for an impulse - perhaps we only completed wave 3 now (red label 3), hence the deep retracement? Else 1-2 1-2 perhaps? (Current wave up ...

Elliott wave outlook