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Wednesday, May 2, 2012

$SPX: EW count and forecast.

$AAPL: Intraday EW count and forecast.

Be careful. Primary trend is down.

$INDU: Again, Dow theory. New high not confirmed by $TRAN.

Yesterday, the Dow industrial ($INDU) put in place a new, multiyear high but the Dow transport ($TRAN) don't follow,so, based on the Dow theory we can say that there was a big divergence, again, and prices can fall hard.

$SPX: Daily and intraday charts. EW count and forecast.

Daily chart.

Intraday chart.