The Raging Bulls

By: Joseph Russo | Sun, May 20, 2007
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Two weeks ago, we shared with readers a perception that equity markets were bullish like no tomorrow. That general assessment has held course thus far. However, intermediate level timing models are suggesting that equity markets may be fast approaching a juncture of pivotal import. If so, many broad market indices will soon elect one of three critical paths in the days and weeks ahead. Our continued diligence in monitoring minor degree trends, together with intra-day price structures; enables us to anticipate which of these critical paths each market is in the process of adopting.


Despite such imminent prospects, the recent buying-panic in select indices may well persist for much longer than one might assume. Once the surge abates, rather than a sharp decline, Act-II may bring with it a sideways levitation, serving to work off extreme overbought conditions, and perhaps introduce prospects for a summer consolidation. In either case, it is advisable that one stay tuned for the new fall season.

From ELLIOTT WAVE TECHNOLOGY'S
NEAR TERM OUTLOOK for the week ending May 18, 2007

From ELLIOTT WAVE TECHNOLOGY'S
NEAR TERM OUTLOOK for the week ending May 18, 2007





 


 

Joseph Russo

Author: Joseph Russo

Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Joseph Russo

Since the dot.com bubble, 911, and the 2002 market crash, Elliott Wave Technology's mission remains the delivery of valuable solutions-based services that empower clients to execute successful trading and investment decisions in all market environments.

Joe Russo is an entrepreneurial publisher and market analyst providing digital online media solutions designed to assist traders and investors in prudently and profitably navigating their exposure to the financial markets.

Since the official launch of his Elliott Wave Technology website in 2005, he has established an outstanding record of accomplishment, including but not limited to, ...

  • In 2005, he elicited a major long-term wealth producing nugget of guidance in suggesting strongly that members give serious consideration to apportioning 10%-20% of their net worth toward the physical acquisition of Gold (@ $400.) and Silver (@ $6.00).

  • In 2006, the (MTA) Market Technicians Association featured his article "Scaling Perceptions amid the Global Equity Boom" in their industry newsletter, "Technically Speaking."

  • On May 6 of 2007, five months prior to the market top in 2007, though still bullish at that time, he publicly warned long-term investors not to be fooled again, in "Bullish Like There's No Tomorrow."

  • On March 10 of 2008, with another 48% of downside remaining to the bottom of the great bear market of 2008-2009, in "V-for Vendetta," using the Wilshire 5000 as proxy, he publicly laid out the case for the depth and amplitude of the unfolding bear market, which marked terminal to a rather nice long-run in equity values.

  • Working extensively with EasyLanguage® programmer George Pruitt in 2010 and 2011, the author of "Building Winning Trading Systems with TradeStation," he assisted in the development of several proprietary trading systems.

  • On February 11, 2011, he publicly made available his call for a key bottom in the long bond at 117 '3/32. Within a year and half from his call, the long bond rallied in excess of 30% to new all time highs in July of 2012.

  • For the benefit of members and his general readership, he responded to widespread levels of economic and financial uncertainty in the development of Prudent Measures in 2012.

  • He publicly warned of a major top in Apple on October 26, 2012 in the very early stages of a 40% decline from its all time high.

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TRUE MONEY SUPPLY

Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/