Elliott Wave Training

Are you looking to learn the Elliott Wave principle? Or maybe you already have some experience and want to find the ways to improve your skills better.

Click on this post for details:

http://wavepatterntraders.blogspot.com/2012/04/elliott-wave-training.html



Sunday, September 28, 2014

Elliott Wave Analysis of JPM (J.P. Morgan)

I have been monitoring this stock for a while now, the thing that stands out is the remarkable similarities between now and the rally from 2002 - 2007. Its almost like a twin of the prior rally, if thats the case we can expect some fireworks soon as this is now hitting both time and price fibonacci targets.

Lets take a look at the time equation aspect. its overshot the 86 months cycle date, but still inside a small cycle date of a poss 45 months cycle high, whilst price is the arbiter of any analysis its pleasing to see that we so have some potential symmetry in time, as well as price.



Lets look at price. We can also see that we currently have a 3 leg advance from the 2009 lows, price has just hit the measured fibonacci target where [C] would equal [A], thats important as a common target for a Zig Zag correction is where wave C would equal wave A, the next common fibonacci relation should be where wave C = wave A x .618.

If we take a look at a possible wave count, its could be at an interesting junction, if the move from 2007 - 2014 is a repeat of the rally from 2002 - 2007 then we potentially are on the cusp of a reversal.


Lets look back at this idea in a few months.

Saturday, September 27, 2014

Elliott Wave Analysis of Gold (GLD) (Update)

Update to this post http://wavepatterntraders.blogspot.com/2014/09/elliott-wave-of-gold-gld.html

Currently the market appears to be in wave 3 of [5] (alt idea is in wave D of the triangle). A closer look suggests its in a smaller degree 4th wave, so a bit more downside is needed to complete wave 3. My guess is around 115-116, then set up for a rally back to 120 before continuing lower towards its long standing target of 110.





Based on some of the Gold stocks and Gold stock indexes a great buying opportunity is setting up. Sentiment is at its worst, no one is interested in this sector, yet we are are looking forward to getting long the metals and Gold stocks. we like to "buy em when no one wants em".

Contrary to what others think, we simply follow our script and look to get members positioned for the moves, Forget what the perma bears are saying, the trend is likely coming to an end soon, and a great opportunity to buy is at hand for those that can control their emotions and ignore the "noise".

Whilst everyone can fight amongst themselves we at wavepatterntraders.com will be getting members ready for the rally that is going to setup and surprise most traders.

The time to buy is when no one is interested, Elliott Wave is not perfect, but its closest thing i have found to perfection and a great tool that if used in the right hands is a tool we can use to get positioned BEFORE the move.

Interested in getting positioned before the move and making $$$.

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Sunday, September 21, 2014

Elliott wave Analysis of Russell 2000 (RUT)

RUT

Initially i placed a potential peak for wave 3/C at the last swing high [where i marked wave B]. However the decline off the highs still looks corrective, so i can rule out a triangle here, although wave B really counts best as a 5 wave advance. (hence i initially counted it complete at the July 2014 highs ).

If the RUT holds above 1107 then it can still setup for a rally higher for wave [5].

If the high is in then i am looking for weakness under 1107 and target 950 for wave 4.





Elliott Wave Analysis of GDX

Should it be a surprise to you that Gold stocks are puking again?


Well it maybe a surprise to you, but not to us. Members have been fully expecting lower prices for a number of months now.We still think we see more downside to complete wave 5 of [3], so under $20.00 is likely but ideally a move towards. $17.00 - 16.00 is seen.


That's where i think it will offer the bulls a great chance to start to accumulate this stock, so as price moves lower and if you are a bull, embrace the opportunity to buy at great levels.

Once wave [3] is completed i am expecting a move towards 35.00 for wave [4] so the potential for a "2 bagger".


Monday, September 15, 2014

BRK Vs SPX (Where Buffett goes so does the SPX) Update

This is an update to my prior update http://wavepatterntraders.blogspot.com/2014/01/brk-vs-spx-where-buffett-goes-so-does.html

Initially i thought we may have a potential peak in Jan of this year for this stock , thus i was going on the basis of a potential peak for the SPX. However seeing as the SPX has continued to push higher, its inevitable that BRK was going to follow higher. As you can see essentially BRK is the SPX (or vice vera).

However having followed the SPX higher for the last few months i though it would be a good time to review BRK and see if it offers a clue to the direction of the SPX. I can make the case (well for the bullish case anyhow) that its close to ending wave [3] and a potential decline for wave [4] is close by. If the SPX pulls back in wave [4] we should see BRK pull back in sync,I estimate around 110 can be seen,  there are enough gyrations to warrant caution now for the bulls.


Both the SPX and BRK have met a 1.618 fibbo extenion which is a common area for a 3rd wave