• 178 days Will The ECB Continue To Hike Rates?
  • 179 days Forbes: Aramco Remains Largest Company In The Middle East
  • 180 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 580 days Could Crypto Overtake Traditional Investment?
  • 585 days Americans Still Quitting Jobs At Record Pace
  • 587 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 590 days Is The Dollar Too Strong?
  • 590 days Big Tech Disappoints Investors on Earnings Calls
  • 591 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 593 days China Is Quietly Trying To Distance Itself From Russia
  • 593 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 597 days Crypto Investors Won Big In 2021
  • 597 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 598 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 600 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 601 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 604 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 605 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 605 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 607 days Are NFTs About To Take Over Gaming?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

Daily Analysis

Today I don't have much to add to what I have been discussed in my last 2 posts. I am on a wait and see mode, for clues that may validate or kill the Ending Diagonal project.

So far it looks ok as long as the current wave (III) establishes a top below 1310.44

Then the following pullback; wave (IV) will have to:

  • Be corrective.
  • Overlap below 1266.73
  • Establish the bottom in an area that maintains a converging pattern.

Hence at the moment I maintain it as the preferred scenario.

Larger Image

For the immediate time frame given the fact that the initial structure of yesterday's pullback is corrective, I would not rule out that price is willing to go higher maybe within a Triple ZZ wave (III), therefore, as long as price does not lose the 1285 area and breaches the rising trend line, price could have another push higher.

Larger Image

We have s/t overbought indicators such as Tick at 918 while CPCE is dropping to extreme zone. Both are warning that a s/t top should not be too far off.


Back to homepage

Leave a comment

Leave a comment