For consistent trading, use Elliott as your metronome. When you are new to trading with Elliott Waves, it can take some time before each pattern is easy to recognize and understand. But as with new music, the more you listen the more the particular rhythm and meaning stand out. There may be as many approaches…
Wednesday Wrap-up: So the Fed came and went without a whimper. The global markets have been in ‘waiting for Godot’ mode for three big events this week. One of them was FOMC meeting on Wednesday. The Fed said that the economy is slowing down and will remain depressed over coming quarters. It also expects the…
Here is what I am reading: Fed Sees Slowing Economy, but Defers New Action (The New Yor Times) If Draghi Disappoints, German Paper Wants Helmet Back (WSJ Blogs) Institutional investors exit growth stocks (MarketWatch) The Lead-Lag Report: Cyclical Melt-Up Coming? (Minyanville) Market at a Glance $$ (Stock Trader’s Almanac) Japan Stands Up (IMF Direct) When Right…
Here is what I am reading: Draghi Reshapes ECB Crisis Pragmatism as Trichet’s Dogma Fades (Bloomberg) Gore Vidal – imperious gadfly and prolific, graceful writer (The Washington Post) Denmark Has Lessons for Draghi as Official Rates Go Negative (Bloomberg) Cult Figures (Bill Gross) August’s back-to-school winners (MaketWatch) Market Heats Up in Election-Year Augusts $$ (Stock…
Tuesday’ Action: $VIX gapped up and maintained an uptrend and closed in the upper half of the day’s range indicating that the volatility increased. Except on Monday, $VIX has been closing in the lower half for the past few days, a sign complacency or lack of volatility in the market. DJIA made a 3-day candlestick…