DOW

DOW continued

Hamilton

dow oct 6 2016

A day later and it still looks like a triangle. Normally they have an a-b-c-d-e structure but in certain cases they just go on for a little longer and add f-g-h-i , so 5 legs become 9 legs but the end result remains the same. With the second “debate” scheduled for Sunday and the proximity to the apex of this triangle one would expect something to happen on Monday, good for at least 450 points but possible more like 750. The position of this triangle marginally favours the downside but, again, this can go either way!

If this is a 4th wave triangle, we are presently probable in wave g and only need to add h and i. These can be very short and then we get the upward explosion. This is what Clinton needs to win.  Trump of course, is hoping for the opposite move.

DOW, update

Hamilton

dow oct 5 2016

Could this possible be a triangle? If so is it in a b-wave or a wave 4??  Perhaps this is the Clinton-Trump fight displayed in the stock market. By the way, if the market is down the month of October there is, statistically , an 88% probability that Trump would win and visa versa. The next utterly useless debate is this Sunday. Fasten your seatbelts. For the moment, EW favours the downside but as with all triangles you never know!

Keep in mind that Brexit got through just because Boris felt he could behave as an ass in order to further his own career, he really did not mean to go that far. Anything is possible.

DOW and S&P, this is it?

Hamilton

dow oct 18 2015s&P oct 18 2015

Exactly a week ago we called for 17218 for the Dow and 2033 for the S&P. The calculation was based on phi, that is a 61.85% retracement of wave 1 down. Waves 2 can retrace a lot more than that but this is nevertheless a good level to work with. As it happens the S&P closed on a high and close level of 2033, a bull’s eye. The Dow reached a high of 17220 and closed at 17216. The two average 17218 but nevertheless we would like to apologize. unreservedly, to our readers for missing the mark by so much. We promise not to make such reckless mistakes in the future and hope that this error did not cause too much confusion.

DOW and S&P update

Hamilton

DOW oct 15 20115S&P oct 15 2015

Our targets a few days ago were 17218 for the Dow and 2033 for the S&P. We had more earnings, Netflix was down almost 15% overnight, Goldman did something similar but on a smaller scale and Walmart, the largest employer in the US, surprised everybody but not us, see our blog of Sept. 16th. There were others but nothing too stimulating. Despite that the market is up double digits again today proving once again that the real story, no the only story, is what the Fed. is doing. This will stop at some point, perhaps in the next few days as the above targets are met. This is a 4th wave and could spend more time going sideways (as in a triangle) but soon and at about these levels things should change.