• 262 days Could Crypto Overtake Traditional Investment?
  • 267 days Americans Still Quitting Jobs At Record Pace
  • 269 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 272 days Is The Dollar Too Strong?
  • 272 days Big Tech Disappoints Investors on Earnings Calls
  • 273 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 275 days China Is Quietly Trying To Distance Itself From Russia
  • 275 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 279 days Crypto Investors Won Big In 2021
  • 279 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 280 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 282 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 283 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 286 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 287 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 287 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 289 days Are NFTs About To Take Over Gaming?
  • 290 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 293 days What’s Causing Inflation In The United States?
  • 294 days Intel Joins Russian Exodus as Chip Shortage Digs In
  1. Home
  2. Markets
  3. Other

A Top Could Be Reached Next Week

When we look at the chart of the Sigma Whole Market Index, we can notice the market is actually in a 5th wave. According to Elliott Wave theory, the 5th wave is the last wave of an uptrend prior to 3 waves of correction (in abc).

So, there is a high probability that a short (or medium) term top is around the corner.

Sigma Whole market Index Chart

The Sigma Trend Index is at '18'. So, we are not far from the key '34' level (required level for a building top process) but we need another upleg early next week.

Sigma Trend Index

The short term model (ST model) uplifted all stops. We added the Eurostoxx50 to the daily reporting but we don't have any position on this index:

SPX Short-Term Model Table

NDX Short-Term Model Table

ESTOXX Short-Term Model Table

DAX Short-Term Model Table

CAC Short-Term Model Table

The medium term Sigma Trend Index (based on weekly close) increased from '20' to '28' but the model is unchanged on the week.

Sigma Trend Medium-Term Table

The medium term model (MT model) remains in sell mode and we are not far from the stop loss.

SPX Medium-Term Table

Short Term Trading Book:
- SPX: 1 long at 1588.17
(stop @ 1603, 3pts below the ST model to take into account bid/ask spread)
- NDX: 1 long at 2868.65 (stop @ 2863, 5pts below the ST model to take into account bid/ask spread)
- CAC: 1 long at 3657.24 (stop @ 3733, 5pts below the ST model to take into account bid/ask spread)
- DAX: 1 long at 7817.14 (stop @ 7856, 10pts below the ST model to take into account bid/ask spread)

Medium Term Trading Book:
- SPX: 2 shorts at 1682.84
(stop @ 1724, 3pts above the MT model to take into account bid/ask spread)

 


For those of you interested in our trades, you can visit our site. You can also subscribe to our twitter account (@SigmaTradingOsc), it is free and you are updated on our latest view/trades. A full description of our ST model and MT model is also available on our site.

 

Back to homepage

Leave a comment

Leave a comment