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7/31/2020
SPX (US500 - NYSE) -5th of 5th wave is in progress - stay long above 3204 for 3350-70 as target
7/18/2020
SPX (US500 - NYSE) - bullish price action
SPX (US500 - NYSE) is in 5th wave of impulse cycle started from major low of Corona crash. It is in 2nd internal wave of 3rd subwave up in 30 min time frame. It will form c down in 2nd internal wave before again resuming the up trend.
NDX (NASDAQ 100) - bullish price action
NDX (NASDAQ 100) is in impulse and most out-performing index in the world. But since last week it is in 4th wave complex correction where one more down cycle will end it. 4th wave can be a triangle too, but let’s see how it works.
Dow Jones Industrial Average (DJI - NYSE) - bulls in control
Dow Jones Industrial Average (DJI - NYSE) is in 2nd subwave correction, so stay bullish when it over to get ride in 3rd subwave of 5th wave up in impulse cycle. Keep eye in 5 min time frame to track the smaller cycles to get in to trade. It has a very clear count as triangle wave 4 and 5th wave is in progress within impulse cycle.
GDX
SOX
XLB
XLF
XLV
XLY
7/16/2020
Nifty50 (Nifty - NSE) - choppy but bullish price action
Nifty50 (Nifty - NSE) is within 4th subwave of 5th wave up of C wave cycle. So stay bullish above 10330 as level of invalidation level.
7/15/2020
SPX (US500 - NYSE) - bullish price action
SPX (US500 - NYSE) is in impulse cycle in 4 hr time frame from last major swing made due to Corona pandemic and lock down situation. It is now within 3rd subwave of 5th wave up and should stay above 3128 level as invalidation.
NDX (NASDAQ 100) - bullish price action
NDX (NASDAQ 100) is in impulse and most out-performing index in the world. It is in the irregular flat kind of 4th subwave correction of 3rd wave up. It is not clear that price is in 5th subwave up or 4th subwave, but if it makes new low below 10370, then its a good buying level for new high as 5th subwave. Stay bullish.
COMPQ (nasdaq composite)
SOX - (Semiconductor Philadelphia)
Dow Jones Industrial Average (DJI - NYSE) - bulls in control
Dow Jones Industrial Average (DJI - NYSE) is in 2nd subwave correction, so stay bullish when it over to get ride in 3rd subwave of 5th wave up in impulse cycle. Keep eye in 5 min time frame to track the smaller cycles to get in to trade.
Shanghai Composite Index (SHCOMP) - Bulls in tight control
Shanghai Composite Index (SHCOMP) as mentioned in previous updates, it will just start moving up in 5th internal wave of 3rd subwave of 3rd wave up in C cycle. Stay bullish for new high, which will occur within two days.
7/6/2020
Shanghai Composite Index (SHCOMP) - Bulls in tight control
Shanghai Composite Index (SHCOMP) is in strong trend in 30 min time frame as impulse move up as almost vertical rally. In daily time frame, it is in ABC move up side, where C wave up is running strongly up after 1st wave of C was leading diagonal structure. 3rd is currently in 3th internal wave of 3rd subwave of 3rd wave, which might end soon. Keep buying three wave decline flat kind of correction for new high. Equal sized C wave target will be 3480 level, which is above 7 % up from current price.
7/1/2020
SPX (US500 - NYSE) - Will bears take control again ?
SPX (US500 - NYSE) is about to over 2nd wave of C wave down, within ABC zigzag down sequence. 2nd wave was abc expanded flat correction, which looks ended with impulse c wave yesterday. The C wave invalidation level (3156) is now too close to have good risk reward ratio for possible trade set up. It should drop right away from open, if it has to go down. If it remain choppy for say 1-3 hours, then its not gonna work like I thought. So stay bearish from here.
6/28/2020
Nifty50 (Nifty - NSE) - Updated EW count
Nifty50 (Nifty - NSE) has completed WXY complex corrective pattern in 4 hr time frame from last major bottom of 7513 to 10553 level. In 15 min time frame, it start correcting down in wxy, where w was double zigzag as abc, x was complex correction. Wave y down is in progress, which on Monday completed its a wav as gap down thereafter correcting in b wave, within abc zigzag for y wave down. In weekly time frame, its not clear that it has completed subwave 4 or not, so wait for more confirmation.
6/25/2020
SPX (US500 - NYSE) - Updated EW count
SPX (US500 - NYSE) is within ABC zigzag movement and C wave down. It completed 1st wave down and is correcting up in 2nd wave. Thereafter wave 3 will start falling down. Equal sized C wave will targeted around 2886 level.
Dow Jones Industrial Average (DJI - NYSE) - Updated EW count
Dow Jones Industrial Average (DJI - NYSE) is within ABC zigzag movement and C wave down. It completed 1st wave down and is correcting up in 2nd wave. Thereafter wave 3 will start falling down. The B wave was ended with c subwave truncation, which cause in sharp fall of C wave down and may elongated beyond equal sized with A wave.
US smallcap 2000 (RUT - NYSE) - Updated EW count
US smallcap 2000 (RUT - NYSE) is within ABC zigzag movement and C wave down. 1st wave down is about to end with new low then 2nd wave will correct upside. B wave was completed with truncated c subwave, which caused sharp fall in C wave may extend it beyond equal sized A wave.
Nasdaq 100 (NDX - NASDAQ) - Updated EW count
Nasdaq 100 (NDX - NASDAQ) has completed five wave up cycle from bottom in 2 hr time frame. The 5th wave was in ending diagonal, which already completed. Now the drop should be very sharp if it actually the case. The drop was either A or 1st wave, so wait to complete the 2nd wave up to get in to it.
DAX (DE30 - Xetra) - Updated EW count
DAX (DE30 - Xetra) is within ABC zigzag movement and C wave down. 1st wave down is about to end with new low then 2nd wave will correct upside. B wave was completed as abc zigzag move. C wave may go down faster than wave A. Wait confirmation to end of 2nd wave. Let’s see how it moves.
CAC40 (FCHI - Paris) - Updated EW count
CAC40 (FCHI - Paris) is within ABC zigzag from last top and going down C wave. 1st wave down is about to end then 2nd wave will correct it upside. Wait for confirmation of 2nd completion to get in to for 3rd wav down. Let’s see how it moves.
FTSE100 (UKX - LSE) - Updated EW count
FTSE100 (UKX) is within ABC zigzag from last top and going down C wave. 1st wave down is already ended and now 2nd wave is correcting it upside. Wait for confirmation of 2nd completion to get in to for 3rd wave down. Let’s see how it moves.
6/24/2020
SPX (US500 - NYSE) - Updated EW count
SPX (US500 - NYSE) is finally within C wave down in ABC zigzag pattern in 60 min time frame, where it is within 1st wave and may be it end soon, thereafter wave 2 will rise upward as a good chance to get in to for C wave down move.
6/22/2020
ASX200 (XJO - Sydney) - Updated EW count
ASX200 (XJO - Sydney) has completed B wave of (B) up move within correction. B was complex wxy correction or it may be triangle (as alternate count). It is moving up in C wave up and 1st of C has about to over, wait for 2nd wave correction to get in to. It must hold the invalidation level to retain the wave count. After C over, means (B) wave over the (C) major wave will start moving down again in impulse sequence to complete (A)(B)(C) zigzag correction.
6/20/2020
SPX (US500 - NYSE) - Updated EW count
SPX (US500 - NYSE) has completed B wave of (B) wave correction upward. (B) wave is subdividing in ABC wave up, where B wave is over in flat correction as abc. Now wave C up will start to complete (B) wave cycle. Another alternate wave count is also possible where (B) wave is over and (C) down has started moving down, which taken as possibility. If on Monday/Tuesday trading session price is moving as expected count then alternate count will take in action.
Dow Jones Industrial Average (DJI - NYSE) - Updated EW count
Dow Jones Industrial Average (DJI - NYSE) has completed wave B wave of ABC up sequence of (B) wave. It started moving up in C of (B). To retain the count it must remain above red dotted line. But if it broke the line, means C wave is under extension. Will see how it works on Monday. The next two trading session will decide the whole picture.
6/13/2020
SPX & Sector Overview:
Conclusion of SPX - at current point - Bounce of 2 - 3 % expected from here.
Bullish bias - 20 % as 5th of C wave up
Bearish bias - 50 % as Y (or (C) down)
Choppy bias - 30 % as triangle or complex correction
XLB, XLP, DJT, XLE are good sell on bounce as they are in down cycle, while XLV, SOX, XLY good among buying option to bounce up from Monday.
SPX - Updated EW count - (All minor counts not included)
Bullish scenario : If price retain above 2981 level (wave 1 high), then bullish count valid and target will be above previous high as C wave.
Bearish scenario : If price broken down below 2980 level, then the whole up move will be categorized in double zigzag (WXY - pink label), which again in goes in two possibility - either triangle formation (choppy) or Y major wave down as complex correction towards new low below 2200.
DJI - Updated EW count - (All minor counts not included)
Bullish scenario : If price retain above 24688 level (wave 1 high of C), then bullish count valid and target will be above previous high as C wave.
Bearish scenario : If price broken down below 24688 level, then the whole up move will be categorized in double zigzag (WXY - pink label), which again in goes in two possibility - either triangle formation (choppy) or (Y) major wave down as complex correction towards new low below 18000.
RUT - Updated EW count - (All minor counts not included)
Bullish scenario : If price sustain above 1336, then C up wave continue.
Bearish scenario : If price broken below 1336, then (Y) wave down will continue going for new low below 960 or it may be choppy correction for more time without clear directional view or triangle.
NDX - Updated EW count - (All minor counts not included)
Bullish scenario : If price retain above 9500 level (subwave 1 high of 3rd wave), then bullish count valid and price further extend to new high as wave progresses.
Bearish scenario : If price broken down below 9500 then impulse count invalidated and count should be reevaluated for possible alternate scenario.
SOX - Updated EW count - (All minor counts not included)
Bullish scenario : If price retain above 1851 level, then bullish count valid and price further extend to new high.
Bearish scenario : If price broken down below 1851 then the up move will be categorized as WXY, which is end the wave (X) and (Y) wave will be targeted for new low below 1240 or some bigger triangle can be possible as alternative.
XLV - Updated EW count - (All minor counts not included)
Bullish scenario : It is in ABC zigzag up move. B is complex correction and under progress. Once it over, C wave will start moving up.
Bearish scenario : No sign of clear bearish sign observed. But if it continue dropping down, then it re-evaluate afterward.
XLY - Updated EW count - (All minor counts not included)
Bullish scenario : If price retain above 121.38 level (wave 1 high), then bullish count valid and target will be above previous high as 5th wave of C up.
Bearish scenario : If price broken down below 121.38 level, then the whole up move will be categorized in triple zigzag (WXYXZ). Next move will decide, new labeling as it progresses.
XLF - Updated EW count - (All minor counts not included)
Bullish scenario : If price is retains above 20.11, the C wave of Y cycle is on the way. It is a corrective WXY pattern from bottom and under-performing SPX.
Bearish scenario : If price broken below 20.11, then complex corrective pattern (Y) will go down.
XLB - Updated EW count - (All minor counts not included)
Bearish scenario : Price action confirmed bearish count on the way. It completed W down, wait for X wave up to get into for bearish Y cycle. So bounce can be used to sell.
XLE - Updated EW count - (All minor counts not included)
Bearish scenario : Price action confirmed bearish count on the way after completing double zigzag WXY. It has completed A wave down, So bounce can be used to sell for C wave.
DJT - Updated EW count - (All minor counts not included)
Bearish scenario : Price action confirmed bearish count on the way after completing double zigzag WXY. It has completed W wave down, So bounce can be used to sell for Y wave.
XLP - Updated EW count - (All minor counts not included)
Bearish scenario : Price action confirmed bearish cycle on the way after completing simple ABC in (X) wave. It started moving down in (Y) wave, So bounce can be used to sell for Y wave. If it dropped in 5 wave (after making new low on Monday, then wave A(or 1st) confirmed then sell for C down, otherwise double zigzag WXY down expected.
6/11/2020
SPX (US500 - NYSE) - Updated EW count
SPX (US500 - NYSE) is moving within correction of 4th subwave of 3rd wave up and is in wxy complex correction. After FOMC event, it dropped to complete the Y wave down, which is under progress and might complete today as futures is about to complete that move. Thereafter 5th subwave of 3rd wave will rise to new high. But wait for confirmation to get in.
Dow Jones Industrial Average (DJI - NYSE) - Updated EW count
Dow Jones Industrial Average (DJI - NYSE) is moving within 4th subwave as complex correction of 3rd wave up, which probably about to ends in internal 4th wave territory. Thereafter it start moving up for 5th subwave of 3rd wave up.
US smallcap 2000 (Russell2000 - NYSE) - Updated EW count
US smallcap 2000 (US2000 - NYSE) is in 4th wave complex correction as WXY wave pattern and Y down will be at open. Ideally 4th wave ends within previous internal 4th wave correction, which is the case here. But wait for confirmation of end of wave 4 to get in.
DAX (DE30 - Xetra) - Updated EW count
DAX (DE30 - Xetra) is moving within 4th subwave as ABC zigzag correction of 3rd wave up, which is about to end with impulse C wave down with one more low. Thereafter 5th up subwave will start, but wait for confirmation to get in.
CAC40 (FCHI - Paris) - Updated EW count
CAC40 (FCHI - Paris) is in 4th subwave as complex WXY correction. Y wave is moving down in c wave, which is about to end with one more low. Thereafter 5th subwave will start, but wait for impulse up as confirmation to get in.
Nikkei 225 (JP225 - Tokyo) - Impulse wave pattern
Nikkei 225 (JP225 - Tokyo) is in impulse wave pattern in C wave from bottom in ABC zigzag up in 2 hr time frame. It is in 4th wave correction of C wave up, which is complex correction and subdivided in in simple abc zigzag wave and about to end. Thereafter new up cycle will start moving up. But wait for confirmation to get in. In weekly time frame, it started new up cycle from last bottom.
6/10/2020
SPX (US500 - NYSE) - Updated EW count
SPX (US500 - NYSE) is moving within correction of 4th subwave of 3rd wave up and its gonna be a flat correction as mentioned in previous udates. Today is the FOMC statement, when probably the 4th subwave will end and market will start moving up for final subwave up to end 3rd wave by making new high.
Dow Jones Industrial Average (DJI - NYSE) - Updated EW count
Dow Jones Industrial Average (DJI - NYSE) is moving within 4th subwave correction of 3rd wave up, which probably ends at FOMC statement event and run for new high to complete 3rd wave, which is highly likely.
US smallcap 2000 (US2000 Russell2000 - NYSE) - Updated EW count
US smallcap 2000 (US2000 - NYSE) is moving within 4th subwave correction of 3rd wave up, which probably ends at FOMC statement event and run for new high to complete 3rd wave, which is highly likely. But keep eye on invalidation level, which should not be breach.
DAX (DE30 - Xetra) - Updated EW count
DAX (DE30 - Xetra) is moving within 4th subwave as double zigzag wxy correction of 3rd wave up, which probably starts moving up from tomorrow after FOMC statement event today after DAX market closing.
CAC40 (FCHI - Paris) - Updated EW count
CAC40 (FCHI - Paris) is moving within 4th subwave as double zigzag wxy correction of 3rd wave up, which probably starts moving up from tomorrow after FOMC statement event today after DAX market closing.
6/9/2020
SPX (US500 - NYSE) - Updated EW count
SPX (US500 - NYSE) has completed 3rd subwave of 3rd of C (or 3rd wave impulse) now 4th subwave will be moving down in complex flat or triangle correction. Price should dip below 3185 to confirm the 4th subwave correction, because above that level, it may extend further.
Dow Jones Industrial Average (DJI - NYSE) - Updated EW count
Dow Jones Industrial Average (DJI - NYSE) has completed 3rd subwave of 3rd wave of C and now moving down in 4th subwave correction, which will be complex, flat or triangle. The possibility of irregular correction is too high as 2nd subwave was sharp correction.
US smallcap 2000 (US2000 - NYSE) - Updated EW count
US smallcap 2000 (US2000 - NYSE) has completed 3rd subwave of 3rd up and now will go down for 4th subwave. Watch the invalidation level carefully to retain the count valid.
DAX (DE30 - Xetra) - Updated EW count
DAX (DE30 - Xetra) has completed 3rd subwave of 3rd wave up and moving down in 4th subwave down, which will take day or two.
CAC40 (FCHI - Paris) - Updated EW count
CAC40 (FCHI - Paris) has completed 3rd subwave of C (or may be impulse). 4th subwave down is now moving down and take one more day to complete. Let’s see how charts unfold.
6/3/2020
SPX (US500 - NYSE) - ABC wave pattern
SPX (US500 - NYSE) is in ABC zigzag move up from last major bottom dated 23 March. It is moving up in 3rd wave up of C cycle and under extension. In weekly time frame it is in 5th wave up as impulse cycle. So in smaller time frame, say 2 hour chart it should in impulse subdivision. In 2 Hr chart it may be in ABC (as ending diagonal) or as impulse cycle (shown by yellow big counts).
Dow Jones Industrial Average (DJI - NYSE) - ABC wave pattern
Dow Jones Industrial Average (DJI - NYSE) is in ABC zigzag move from last low dated 24 March. It is moving up in 5th wave of C wave in ABC pattern (or 3rd wave as impulse). In weekly time frame it is in 5th wave up as impulse cycle, which means in 2 hour time frame, it must be impulse or diagonal structure in up direction.
DAX (DE30 - Xetra) - ABC wave pattern
DAX (DE30 - Xetra) is in ABC zigzag move up and 5th of C wave is about to end (if not extended). In weekly time frame, it is in up trend and impulse wave sequence from 1988 cycle. It we talking last cycle, then it’s in wave 5 up, which may impulse or ending diagonal. So its better to count ABC along with impulse until get any confirmation in 2 hour time frame. In 60 min time frame, the C wave is 0.618 times of wave A, which shows either C wave over, or 1st wave of 3rd up may over. But without guess anything, let’s chart reveal what’s going on.
