From Elliott Wave International
Monthly Archives: August 2006
Every other day …
Echo, echo, echo …. This looks much like a repeat of Monday’s (8/28) action. A quick, tradable pullback followed by a day of sideways oscillation. The range was a little wider, and if you play divergences it was possible to … Continue reading
Posted in Daily Wrapup
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Reports drive the markets
Fibonacci ratios often mark the end of moves, but the problem is seeing the possibilities in time to take action. Often a move will retrace more than 100 percent, and if so, the most likely turning points will be either … Continue reading
Posted in Daily Wrapup
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Bet you can’t take just one
One-a-day may be the best prescription until after next weekend (Labor day). It seems as if every other day has a single good trade. And of course Friday brought down the average. Fifteen minutes into today’s session set up a … Continue reading
Posted in Daily Wrapup
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Lazy, Hazy Days of Summer
This morning I was sure I had identified a TRIANGLE pattern that immediately broke to the downside. Fortunately I require more for an entry signal. Sometimes the lack of a trigger is the only thing that saves me from a … Continue reading
Posted in Daily Wrapup
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Some days you just watch
When the Russell 2000 starts trading less than 10 points a session I find it pays to become extremely selective. Going back five days we have had ranges of 9.70, 9.40, 10.90, 6.80, and finally yesterday’s 16.60. Maybe things are … Continue reading
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Breakout/Fakeout
This morning was an excellent example of why even day traders need to do some planning before the market opens. And how a little math will improve your bottom line. The market opened almost unchanged, and then had a small … Continue reading
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Wolfe Wave
Although I’ve never actually traded a Wolfe Wave, I easily recognize them after the fact. But today I called this one right at the top. (Called it, but didn’t trade this one either.) The numbers on the chart are not … Continue reading
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