Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Ravencoin RVN About to EXPLODE to NEW HIGHS! Last Chance to Buy Before it goes to the MOON! - 21st Oct 21
Stock Market Animal Spirits Returning - 21st Oct 21
Inflation Advances, and So Does Gold — Except That It Doesn’t - 21st Oct 21
Why A.I. Is About To Trigger The Next Great Medical Breakthrough - 21st Oct 21
Gold Price Slowly Going Nowhere - 20th Oct 21
Shocking Numbers Show Government Crowding Out Real Economy - 20th Oct 21
Crude Oil Is in the Fast Lane, But Where Is It Going? - 20th Oct 21
3 Tech Stocks That Could Change The World - 20th Oct 21
Best AI Tech Stocks ETF and Investment Trusts - 19th Oct 21
Gold Mining Stocks: Will Investors Dump the Laggards? - 19th Oct 21
The Most Exciting Medical Breakthrough Of The Decade? - 19th Oct 21
Prices Rising as New Dangers Point to Hard Assets - 19th Oct 21
It’s not just Copper; GYX indicated cyclical the whole time - 19th Oct 21
Chinese Tech Stocks CCP Paranoia, VIES - Variable Interest Entities - 19th Oct 21
Inflation Peaked Again, Right? - 19th Oct 21
Gold Stocks Bouncing Hard - 19th Oct 21
Stock Market New Intermediate Bottom Forming? - 19th Oct 21
Beware, Gold Bulls — That’s the Beginning of the End - 18th Oct 21
Gold Price Flag Suggests A Big Rally May Start Soon - 18th Oct 21
Inflation Or Deflation – End Result Is Still Depression - 18th Oct 21
A.I. Breakthrough Could Disrupt the $11 Trillion Medical Sector - 18th Oct 21
US Economy and Stock Market Addicted to Deficit Spending - 17th Oct 21
The Gold Price And Inflation - 17th Oct 21
Went Long the Crude Oil? Beware of the Headwinds Ahead… - 17th Oct 21
Watch These Next-gen Cloud Computing Stocks - 17th Oct 21
Overclockers UK Custom Built PC 1 YEAR Use Review Verdict - Does it Still Work? - 16th Oct 21
Altonville Mine Tours Maze at Alton Towers Scarefest 2021 - 16th Oct 21
How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
The Only way to Crush Inflation (not stocks) - 14th Oct 21
Why "Losses Are the Norm" in the Stock Market - 14th Oct 21
Sub Species Castle Maze at Alton Towers Scarefest 2021 - 14th Oct 21
Which Wallet is Best for Storing NFTs? - 14th Oct 21
Ailing UK Pound Has Global Effects - 14th Oct 21
How to Get 6 Years Life Out of Your Overclocked PC System, Optimum GPU, CPU and MB Performance - 13th Oct 21
The Demand Shock of 2022 - 12th Oct 21
4 Reasons Why NFTs Could Be The Future - 12th Oct 21
Crimex Silver: Murder Most Foul - 12th Oct 21
Bitcoin Rockets In Preparation For Liftoff To $100,000 - 12th Oct 21
INTEL Tech Stock to the MOON! INTC 2000 vs 2021 Market Bubble WARNING - 11th Oct 21
AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
Stock Market Wall of Worry Meets NFPs - 11th Oct 21
Stock Market Intermediate Correction Continues - 11th Oct 21
China / US Stock Markets Divergence - 10th Oct 21
Can US Save Taiwan From China? Taiwan Strait Naval Battle - PLA vs 7th Fleet War Game Simulation - 10th Oct 21
Gold Price Outlook: The Inflation Chasm Between Europe and the US - 10th Oct 21
US Real Estate ETFs React To Rising Housing Market Mortgage Interest Rates - 10th Oct 21
US China War over Taiwan Simulation 2021, Invasion Forecast - Who Will Win? - 9th Oct 21
When Will the Fed Taper? - 9th Oct 21
Dancing with Ghouls and Ghosts at Alton Towers Scarefest 2021 - 9th Oct 21
Stock Market FOMO Going into Crash Season - 8th Oct 21
Scan Computers - Custom Build PC 6 Months Later, Reliability, Issues, Quality of Tech Support Review - 8th Oct 21
Gold and Silver: Your Financial Main Battle Tanks - 8th Oct 21
How to handle the “Twin Crises” Evergrande and Debt Ceiling Threatening Stocks - 8th Oct 21
Why a Peak in US Home Prices May Be Approaching - 8th Oct 21
Alton Towers Scarefest is BACK! Post Pandemic Frights Begin, What it's Like to Enter Scarefest 2021 - 8th Oct 21
AJ Bell vs II Interactive Investor - Which Platform is Best for Buying US FAANG Stocks UK Investing - 7th Oct 21
Gold: Evergrande Investors' Savior - 7th Oct 21
Here's What Really Sets Interest Rates (Not Central Banks) - 7th Oct 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

A little Stock and Gold Market Dip Do ya, Plus a Look at the Week Ahead

Stock-Markets / US Stock Markets Jun 09, 2007 - 03:40 PM GMT

By: Joseph_Russo

Stock-Markets A week ago, we alerted readers of an imminent June Swoon . We opened last week's commentary by stating: “After 11-weeks of nothing but blue-sky, we suspect this bull may be growing bored of the dominance it imposes upon bears at will. Perhaps a couple of weeks respite in June ought to be a minimum at which this easily antagonized bull may once again become angered, electing to resume its deceptive charge with renewed fury.”


Timing last weeks sell-off was business as usual for us, and nothing short of perfect. For the first trading week in June, the majority of broad based financial indices (save for the US Dollar) took sizeable losses. By last Thursday's close, the Dow Jones Industrials gave back 425-points - or 3.10% from its recent print highs.

Next, we will look at how the major indices faired last week, and what may be in store ahead.

 

Trade Triggers and Target Captures From Elliott Wave Technology's Near Term Outlook for the week ending June 8, 2007

The price data, trade-triggers, and capture-targets in the gray center panel of the chart below, represent the culmination of analysis presented over the last week of trade. Price data in the left panel shows guidance for the week prior to last. The panel on the right is empty awaiting next weeks price data. However, we have already populated the Near Term Outlook for Monday with an array of trade-triggers, and price-targets for next week. Do join us should you wish to fine-tune or establish fresh trading points toward gaining a clear competitive edge for the week ahead and beyond.

From two-weeks ago - for the week ending June-1

Our short-term analysis began last week after outlining triggers and targets, which had amassed nearly 20-pts in profit from the S&P the week prior.

Monday, June 4 – Friday, June 8

After reaching an upside price target of 1538 from the prior week, we tagged last weeks first short-term capture with a small 5-point upside target from the 1535 level. Apart from that, Monday's trade was mostly a non-event retest failure-session.

The next three days knocked the bullish wind out of most all broad based indices. By Friday, bullish blowback was all over the bears with vengeance.

We have annotated the above chart highlighting the balance of the week's price-points and targets. We have noted resting sell-triggers with red circle points, target-captures in turquoise, and buy-triggers in green.

By weeks-end, our analysis had pinpointed over 40-pts worth of profitable trade set-ups in the S&P 500. Including the 19-pts captured the week prior, we have successfully identified over 60 S&P profit points in the past two weeks!

Our discipline in maintaining high levels of impartiality relative to bias - brings forth a constant flow of short-term trade set-ups on both sides of the market.

Given this robust two-way dynamism, a fair number of triggers will fail to meet their targets. Because offsetting triggers often reside within tolerable risk levels above and below the market, potential losses related to directional target failure are limited.

Does all this sound too good to be true? The short answer is YES, it does indeed!

Let's get real for a minute. Truth told - it is highly unlikely that anyone on the face of the Earth could have possibly executed entry and exit orders to capture 100% the price points we provided last week. Given this reality, we automatically deduct 40% from the total point-capture in arriving at a more realistic profit assumption from our ongoing analysis.

Does it still sound too good to be true? Frankly, it does – and the answer is still YES!

Even after the 40% margin buffer – a respectable level of talent is still required in one translating our directional guidance into working orders, and booked profits.

As it is, order execution and trade management skills are challenging enough - both require a good deal of practice, patience, and discipline to acquire. Obtaining a reliable road map of price-targets, and trade-triggers from which to evaluate, launch, and manage trades, is of very actionable utility while honing such skills.

Although having an accurate market-map cannot guarantee one will never make wrong turns, access to such content can only improve the bottom line and skill set for every level of trader imaginable – without a doubt!


The Near Term Outlook delivers unrivaled short and long-term forecasting guidance for the U.S Dollar, Dow, SPX, Gold, HUI, and NDX.

The concise, impartial market guidance, present throughout our publication, provides clear targets, triggers, and variant parameters from which active traders can successfully evaluate, and construct low-risk trading strategies. The long-term rewards in adopting such guidance as part of one's trading arsenal are quite substantial, and well worth the marginal investment premium.

The rigors and discipline we employ in developing forward guidance are void of mysticism, idle chatter, and all other varying forms of market-magic formulas. Our methodology is fully transparent, and clearly translated, providing a lifelong benefit of advanced trading skills to each of our clients.

 

Trade Better / Invest Smarter...

By Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Copyright © 2007 Elliott Wave Technology. All Rights Reserved.
Joseph Russo, presently the Publisher and Chief Market analyst for Elliott Wave Technology, has been studying Elliott Wave Theory, and the Technical Analysis of Financial Markets since 1991 and currently maintains active member status in the "Market Technicians Association." Joe continues to expand his body of knowledge through the MTA's accredited CMT program.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in