Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
Coinbase vs Binance for Bitcoin, Ethereum Crypto Trading & Investing During Bear Market 2021 - 11th Jun 21
Gold Price $4000 – Insurance, A Hedge, An Investment - 11th Jun 21
What Drives Gold Prices? (Don't Say "the Fed!") - 11th Jun 21
Why You Need to Buy and Hold Gold Now - 11th Jun 21
Big Pharma Is Back! Biotech Skyrockets On Biogen’s New Alzheimer Drug Approval - 11th Jun 21
Top 5 AI Tech Stocks Trend Analysis, Buying Levels, Ratings and Valuations - 10th Jun 21
Gold’s Inflation Utility - 10th Jun 21
The Fuel Of The Future That’s 9 Times More Efficient Than Lithium - 10th Jun 21
Challenges facing the law industry in 2021 - 10th Jun 21
SELL USDT Tether Before Ponzi Scheme Implodes Triggering 90% Bitcoin CRASH in Cryptos Lehman Bros - 9th Jun 21
Stock Market Sentiment Speaks: Prepare For Volatility - 9th Jun 21
Gold Mining Stocks: Which Door Will Investors Choose? - 9th Jun 21
Fed ‘Taper’ Talk Is Back: Will a Tantrum Follow? - 9th Jun 21
Scientists Discover New Renewable Fuel 3 Times More Powerful Than Gasoline - 9th Jun 21
How do I Choose an Online Trading Broker? - 9th Jun 21
Fed’s Tools are Broken - 8th Jun 21
Stock Market Approaching an Intermediate peak! - 8th Jun 21
Could This Household Chemical Become The Superfuel Of The Future? - 8th Jun 21
The Return of Inflation. Can Gold Withstand the Dark Side? - 7th Jun 21
Why "Trouble is Brewing" for the U.S. Housing Market - 7th Jun 21
Stock Market Volatility Crash Course (VIX vs VVIX) – Learn How to Profit From Volatility - 7th Jun 21
Computer Vision Is Like Investing in the Internet in the ‘90s - 7th Jun 21
MAPLINS - Sheffield Down Memory Lane, Before the Shop Closed its Doors for the Last Time - 7th Jun 21
Wire Brush vs Block Paving Driveway Weeds - How Much Work, Nest Way to Kill Weeds? - 7th Jun 21
When Markets Get Scared and Reverse - 7th Jun 21
Is A New Superfuel About To Take Over Energy Markets? - 7th Jun 21
Why Tether USDT, Stable Scam Coins Could COLLAPSE the Crypto Markets - Black Swan 2021 - 6th Jun 21
Stock Market: 4 Tips for Investing in Gold - 6th Jun 21
Apple (AAPL) Summer Correction Stock Trend Analysis - 5th Jun 21
Stock Market Sentiment Speaks: I 'Believe' We Rally Into A June Swoon - 5th Jun 21
Stock Market Russell 2000 After Reaching A Trend Channel High Flags Out - 5th Jun 21
Money Is Cheap, Own Gold - 5th Jun 21
Bitcoin and Ravencoin Cryptos CRASH Bear Market Buying Levels Price Targets - 4th Jun 21
Scan Computers - How to Test New Systems CPU, GPU and Hard Drive Stability With Free Software - 4th Jun 21
Hedge Funds Getting Bullish on Gold - 4th Jun 21
THERE ARE NO SOLUTIONS When the Media is the VIRUS - 4th Jun 21
Investors Who Blindly Trust the ‘Experts’ Will Get Left Behind - 4th Jun 21
US Stock Market Indexes Consolidate Into Flagging Pattern – Watch For Aggressive Trending Soon - 4th Jun 21
Microsoft (MSFT) Stock Trend Analysis - 3rd Jun 21
No More Market Bloodbath – Beyond Cryptos - 3rd Jun 21
Bank run, or run from the banks? - 3rd Jun 21
This Chart Shows When Gold Stocks Will Explode - 3rd Jun 21
The Meaning Behind Gold’s Triple Top - 2nd Jun 21
Stock Market Breakout Or Breakdown – What Does The Next Big Trend Look Like? - 2nd Jun 21
Biden’s Alternate Inflation Universe - 2nd Jun 21
What You Should Know Before Buying Car Insurance - 2nd Jun 21
Amazon (AMZN) Stock Summer Prime Day Discount Sale - 1st Jun 21
Gold Investor's Survival Guide - 1st Jun 21
Silver and Copper to Benefit from Global Electrification Push - 1st Jun 21
Will Gold Shine Under Bidenomics? - 1st Jun 21
Stock Market Buy the Dip, Again?! - 1st Jun 21
Stock Market Consolidation Ahead - 1st Jun 21
Stock Market Summer Correction Review, Crypto CRASH, Bitcoin Bear Market Initial Targets - 31st May 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Stock Market Bulls on the Defensive and Gasping for Air

Stock-Markets / Stocks Bear Market Feb 18, 2008 - 08:45 AM GMT

By: Joseph_Russo

Stock-Markets

Best Financial Markets Analysis ArticleBULLS FUMBLE - First-Down - BEARS - The near 20% decline from peak to trough in the October 2007 - January 2008 period, marked a potentially devastating turnover for Bulls. After throwing a near interception back in August, Bulls held steady, recovered, then fumbled critically at the October ‘07 highs.

Bears handily took possession thereafter, and have scored an undeniable first-down with the lows hit in January. Despite the aid of statist intervention along with surety of more where that came from, the Bullish contingent finds itself in the very rare and awkward position of playing defense. 


Not without a fight
Though Bears may have scored a first-down, they are not very far along in advancing their ultimate campaign. It is likely they are still at their own 10-yard line - with a gargantuan 90-yard battle to win for a touch-down bottom to victory. Not only do Bulls still maintain mountains of steroidal-muscle and influence over the grid-iron at large, but they also have a formidable army of fans and officials working overtime to skew favor back to their collective multi-generational interests. On the other hand, it will be interesting to see the resultant outcome of official's attempts to reflate what has yet to be adequately deflated.

As the above page extraction from Elliott Wave Technology's Interim Monthly Forecast clearly reflects, the time for pro-active traders and investors to have gotten defensive was in the summer and fall of 2007. Going forward, participants may get second chance to get defensive at higher levels, or it may also turn out such that the bullish contingent somehow prevails – prompting us to lift our currently defensive posture.

Gaming the System with Options and Futures

Short-term leveraged trading is a highly speculative endeavor that entails significant levels of risk along with extraordinary levels of reward. To prevail in such an arena, one must not only adopt and stick with a winning discipline – but one must also accept that taking ones share of managed losses is a basic element of such engagement.

Below is graphic summary of previous week's short-term trade-triggers identified via Elliott Wave Technology's Near Term Outlook .

Elliott Wave Technology's short-term market forecasts provide an outstanding roadmap of the dynamic price action landscape five days per week. The Near Term Outlook provides an excellent platform from which speculative short-term traders may better execute their strategies, mitigate risk, and maximize profits.

Short-Term Trading Environment: Week ending 15-Feb.

Ironically, the faster markets traverse amid their expanded daily ranges, the slower the larger degree wave counts take to unfold. As the stakes get higher, the premiums and risk to participate in these moves rises accordingly – and so do the rewards.

Re-Capping last week's trading points: Following the mayhem and hi-jinks incited by the crisis intervention and emergency rate-cuts some three weeks ago, markets have settled down – albeit in a much larger, more volatile version of its former self.

Sparing the blow-by-blow details of the previous two weeks, our non-discretionary short-term trading discipline has captured over 500 points in the Dow in the week past, recovering most all of the losses experienced earlier in the month.

The Broad market update

We are going to begin this broad market outlook from the value perspective of Gold - one of the last remaining stable benchmarks of equal weight and measure. The chart below translates the value of the Dow Jones Industrial Average when measured against the Gold value. 

Should one have interest in acquiring access to our long-term technical analysis and/or utilizing our proprietary short-term market landscapes, we invite you to visit our web-site for more information.

For immediate access to our broad market coverage in all time-horizons, one may subscribe directly to the Near Term Outlook which includes our Global Millennium Wave Quarterly reports, Interim Monthly Forecasts, and ongoing coverage of the short-term Dow, S&P, and NDX five-days-per-week, while issuing near-term updates for the US Dollar, Gold, Crude Oil, and the HUI two times per week.

Trade Better / Invest Smarter...

By Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Copyright © 2008 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.

Joseph Russo Archive

© 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