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S&P 500: 15 Thousand Feet View

Weekly Chart Analysis Current Status: Updated on Saturday September 10 2016 Last day of the week ending on September 9 saw the largest percentage drop for S&P 500 since June 24, following the Brexit referendum. For the first time since July 8, the index had a swing of more than one percentage from previous close – a stretch of 43 days. On…

S&P 500 Change by Month

Back to School But September Calls For Caution

Dog Days bright and clear Indicate a happy year; But when accompanied by rain, For better times, our hopes are vain. — Dog Days of Summer Folklore Sirius is the brightest star seen from Earth in the constellation Canis Major, the Greater Dog, which is in the Southern Celestial Hemisphere or the Southern Sky. Being the most prominent star…

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S&P 500: 65 Thousand Feet View

Monthly Chart Analysis Current Status: Last Updated on Thursday September 01, 2016 Current Trend: Uptrend Last Pattern: Rectangle (broken in Apr-13) Current Streak: 1 Down month Last Six Months 5 Up months Last High 2193.81 in August 2016 High Month Low Month Last Swing 2116.48 Feb-16 1810.10 Nov-16 Previous Swing 2134.72 May-15 1867.01 Aug-15 Pivot:…

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Here’s Looking At You, S&P

Long Term Still Looking Great On the monthly-timeframe, S&P 500 is on an ever extending up move. In the last twenty years, markets had two major melt-downs and two major tops excluding the current rally. These reversal points formed a nice looking rectangle trading box for the S& 500. The upper limit is bounded by the highs of…

Elliott

Elliott Wave Principles – Basic Tenets

Ralph Nelson Elliott noticed in 1930s that the up-and-down movements in the stock market prices have identifiable patterns. Based upon this observations he deduced a wave structure that he named The Wave Principle and published a book in 1938 detailing it. Now it is known as Elliott Wave Principle. After Elliott’s death in 1948, many people…

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Brexit Wreaks Havoc on U.K. Economy as PMI Tanks

This from Bloomberg. The U.K.’s decision to leave the European Union inflicted an immediate blow on the economy as business activity shrank at its fastest pace since the last recession seven years ago. In the weeks following Brexit, there was a “dramatic deterioration,” Markit Economics said in a one-time report published Friday. Services and manufacturing shrank…