Monthly Archives: December 2006

Today continued the correction that started yesterday, but it wasn’t really a good trading market. Low volume continues, and judging by the drop in readers on the site the last two day, many of you are joining me in taking … Continue reading →

We got the correction I mentioned yesterday (or perhaps only part of it.) The potential WEDGE formation broke downwards as it should, but the movement towards the target (point #5) was not as direct as it is in most wedges. … Continue reading →

Both Tuesday and Wednesday had their best moves start right at the open, and since I’m not fond of entering at the open without a clear setup, I would have had trouble trading them. I’m not trading this week, but … Continue reading →

Well, we dropped about five points, gained it back, and then the big blue arrow tells it all. But I don’t think this picture is really worth 1,000 words, so I’ll keep this short. (That last drop all occurred after … Continue reading →

The last few bars yesterday broke out of a rectangle, but without any convincing volume. Remember that the most consistent pattern breakouts require volume to the upside and, although volume on down breaks is nice, it is not required. Today’s … Continue reading →

Wrong again, but all my trades today were profitable. I think there’s a lesson worth learning there. One of the reasons I don’t actually trade Elliott Waves is that the wave counts I see can turn into other wave counts … Continue reading →