Video: The Real-Time Power of Elliott Wave Analysis

Mainstream financial analysts always look for ways to explain market action through news stories and events. Conventional wisdom states that news and inter-market correlations cause market booms and busts, but such explanations rely on selective presentation of the data. In this video, Elliott Wave International's Asian-Pacific Financial Forecast Editor Mark Galasiewski shows you how Elliott wave analysis was able to predict Hong Kong's late '90s mania and its aftermath in real time -- without looking at the news or the market's "fundamentals."



Watch More about the Power of Elliott Wave Analysis in this FREE Video

Discover how Elliott wave analysis gives you a consistently logical explanation
-- and debunk one of the major myths of what caused the Asian Financial Crisis
-- in the free video, "The Real-Time Power of Elliott Wave Analysis:
Debunking the Myths of the Asian Financial Crisis." Access Your FREE Video Now.

S&P500 short-term: On the Verge

Last post on the SPX discussed the bullish and bearish views, and suggested a break of the downtrendline as an indication of the former. With the bullish price action last session(although on relatively low volume), SPX is on the verge of an upside breakout.

Multiple Obstacles at 1105

Price has broken above the red downtrendline from the May high, and facing multiple obstacles at present - the 20 & 200 day moving averages, green & blue downtrendlines and historical resistance at 1105. Price may go sideways for a bit more before breaking out to the upside.

Upside Breakout

A convincing upside breakout(above 1105) technically can go all the way up to the 1220 high. However, potential roadblocks exist at 1130, 1150 & 1172 enroute.

An unlikely breakdown has initial support around 1060. I have changed the labelling to mark the end of wave A at 1010, expecting a complex correction of sorts to bottom before the year end.

Meanwhile, SSEC as usual leading the world towards a bottom for the medium-term. All the best!

EWI Free Week

If equities are not working out for you, the Energy markets offer a lot of opportunity with their volatile swings. If you are interested in the movements of Crude Oil, Natural Gas and their derivatives, or their ETFs you may find EWI intraday, daily and historical charts very useful! The good folks at Elliott Wave International are offering a Free Week.

The analysis is free, but only until Jul 28th. I especially like the super long term chart & wave strucure of Crude Oil dating back to 1859! Click here to access these resources. Enjoy!

Can you spot the ODD one out?

I'd written previously about Shanghai Composite having a mind of its own. Today was one of those days. SSEC seems to have begun the bottoming phase. And if the recent past is any guide, this implies that most other world markets are at least 2-3 months away from their respective troughs.