This weekend, family has kept me away from the screens, so this one is going
to be a short one:
On Friday (OPEX day) SPX achieved a powerful break out above the critical
1230.71 resistance and the 100 dsma.
Now it remains to be seen if next week price will be able to continue the
break out move.
As mentioned on Friday, my working scenario remains the same:
"I am expecting a 3 -wave up leg off the October 4 low.
The end of the first up leg (wave A) is in a pending confirmation status.
Once the wave (A) is confirmed in place, a wave (B) pullback has a potential
target range = 1177 - 1155"
Contact: If you would like to contact the author, you can e-mail him
at thewavetrading@gmail.com
The main objective of this project is to share my views on several markets
and asset classes.
In the initial stage TWT website will be a free service.
My main focus will be the equity market with SPX being the leader but I will
also follow US equity sectors, major European indices, fixed income, currencies
and commodities markets.
My analysis is based upon traditional Technical Analysis, Elliot Wave guidelines
and investor sentiment.
My goal is to establish the most likely path that the price of a particular
asset will undertake and profit through ETF instruments both on the long and
short side and mainly with leveraged ones (2 x & 3 x).
The advantage of ETF investments is that it allows getting involved in equity
indices & sectors, currencies, fixed income, commodities etc.
Therefore the main purpose of TWT will be to establish investment strategies
regardless if the market is in an up trend or in a down trend, leveraging
the chosen scenario while managing the risk by establishing protective stop
losses.
Hence I will always define the risk, I will try to let winners run the wave
and I will cut the losses if my strategy is wrong.
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only, the information supplied is not a recommendation to buy or sell any
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