06
Jan
Where are we and where do we go............
Written by Anna   

Hi everyone

I want to wish everyone a "Happy New Year" and send you the warmest of thoughts. Read more...

Things have been very volatile this past December, not the December usual dance. The idiots up in congress are doing nothing but playing stupid mind games and looking out for themselves! I know I know, you say well it's always been that way. Yes! It has, but it never ceases to amaze me how are government is run. Not like a strong efficient business, but a  total joke to us and the rest of the world. I don't expect this to get any better so I will move on.

Right now we are in a wave up looks like a C wave, but with Elliot Wave it's all subjective. We've come really far really fast 1385 to 1463 in just a couple of trading days. Now in my experience in trading with this manipulated tape with HFY they'll take it further than really makes sense. We should be getting some kind of wave down here soon and then maybe a final wave up before the fireworks start.

We have the debt ceiling debate (oh yeah) coming up in a few weeks and I am sure we'll have the same games that we had with the fiscal cliff. No compromise till the last second and the bickering will continue.

Lets look @ the SPX daily chart you can plainly see the inverted Head and Shoulders that played out last week and took us up 5% on the SPX in a few trading days. We are overbought on the stochs and should have some kind of wave down soon, but then i believe we move on up to that 1468ES double top 1474.41 SPX. 

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16
Dec
Here Comes Santa Claus
Written by Anna   

 

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HI everyone and a happy holliday season to you! 

Well we are near the end of the year and the question is "Will Santa Claus come to Markets" I sure do think so. We had a small subwave down last week, but remember we were up 5 days in a row. So to me it appears this is a Subwave where the end of the year folks will do what they need to do. Sell their losers and buy more winners. The volume will begin to really drop off later this week or even sooner!  I  just have to say that Apple is now pretty much a "broken stock" and I believe it has allot more pain ahead. I am not shorting or doing a bearish strategy yet, but have that on my mind.

Thinking that most of the profit taking has taken place in Gold and silver, and that it pretty much goes sideways till the end of the year. I will be going long and just letting it work in the emini's.  Dollar is what I keep an eye on carefully as it has been around this 80$ level for quite some time and could break out to the downside (would be my thoughts)there is a large Head and Shoulder pattern on it. Now if the dollar does continue down then gold silver will start at least a wave up.

Hope you enjoy your week and see you hopefully on the blog :)

 

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