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Sunday, April 15, 2012

$SPX and $ES_F: EW count and divergences.


$SPX

The chart,above, and the one, below, show a 20 days time period and 15 min timeframe for $SPX and $ES_F, respectively, and we found important divergences between both charts:

1.- The $ES_F chart do not confirm the higher high from April 2.

2.- It appears as minor wave 3 (green) was reached first by $ES_F, on March 27 and after by $SPX, on April 2.

3.- In any case, what appears as an impulsive wave, in both charts, starting at April 2, seems to be waves 3 and 4 in the $SPX and waves 1 and 2 of 3 in the $ES_F.

4.- The corrective wave, beginning at April 10, in both charts, seems to be a wave 4 in the $SPX, respecting the third EW rule and a wave 2 in the $ES_F, because it can't be a wave 4, because hasn't respect the third EW rule.



$ES_F ($SPX Futures)

$C: All times,Monthly chart. EW count and forecast, updated from January 16,2012 post.



C, continues it developing as forecasted on January 16,2012



Monday, January 16, 2012


Citibank: C. Monthly and weekly charts with EW count.







The C EW count has a lot of similarities with the BAC EW count and what we think is that price will move,next months, between a narrow range inside the blue rectangle until wave 3 gain strength to a powerful development. We are sustaining that markets will have a last downfall with the EU debt crisis and we also sustain that markets will fall down until september-october 2012 when cyclical wave 2 will be in place and cyclical wave 3 will start.

$GLD: Wave 4 developing as forecasted on November 19, 2011




The weekly chart,above, is an update of our call from November 19,2011. Wave 4, down continue developing as forecasted.


Saturday, November 19, 2011

GLD Monthly,weekly,daily and 60 min EW count.

Looking the "big picture" of GLD.it seems that wave 3 (blue) is in place and wave 4,down, is now developing with possible target in an area near the 50% retracement.