The Dutch Clown
Established member
- Messages
- 592
- Likes
- 11
A short one this week.
So every once in a while one faces contrary analysis from different techniques and this is a period where it is quite a challenge to get to the bottom of a structured analysis.
In the EOD picture we have found some time ago a Positive Reversal with a price target above 500 we are on track and short/medium AEX targets below 300 seem to be out of the picture. It might very well come as a bit of a scare that the Elliott Wave Analysis explicitly keeps a 400-375 target range open (mind you it’s not the preferred scenario mere a possibility that has to be taken into account).
The intraday movements gave us a Positive Reversal with a target that missed about one index point. The route was accompanied by disproportional movement in the oscillator which caused alert signals and the movement was even more disproportional which let to a Negative Reversal signal. I must admit that I am on uncovered territory here because the literature does not handle complex examples. Although the Range Rules must be added to the picture to clear some of the dark clouds it’s not enough to the high standards I use. This is the part where I consider myself fortunate to be able to combining several different techniques in order to be able to escape.
Let’s take a look at the monthly graph first(first attachment), the struggle with the 2 x 1 line in June and July, just keep it in mind that when the AEX moves down a bit further so you will know where we are and what to expect next. The EOD graph shows (second attachment)a bit more exciting as the AEX closed last Friday just under the 409 trend line upwards and above the trend line downwards from 478.
The intraday graph we will watch through the day.
The cross check DJIA from 11670 has wave three (3
downwards starting at 11256 with price targets 10538 10320 first time indication is July 25th and second is August 9th. Within this wave an other wave three has been formed starting at 11038 (3:3) with price targets 10608 10476 and time indications 24th and 25th of July.
S6.
So every once in a while one faces contrary analysis from different techniques and this is a period where it is quite a challenge to get to the bottom of a structured analysis.
In the EOD picture we have found some time ago a Positive Reversal with a price target above 500 we are on track and short/medium AEX targets below 300 seem to be out of the picture. It might very well come as a bit of a scare that the Elliott Wave Analysis explicitly keeps a 400-375 target range open (mind you it’s not the preferred scenario mere a possibility that has to be taken into account).
The intraday movements gave us a Positive Reversal with a target that missed about one index point. The route was accompanied by disproportional movement in the oscillator which caused alert signals and the movement was even more disproportional which let to a Negative Reversal signal. I must admit that I am on uncovered territory here because the literature does not handle complex examples. Although the Range Rules must be added to the picture to clear some of the dark clouds it’s not enough to the high standards I use. This is the part where I consider myself fortunate to be able to combining several different techniques in order to be able to escape.
Let’s take a look at the monthly graph first(first attachment), the struggle with the 2 x 1 line in June and July, just keep it in mind that when the AEX moves down a bit further so you will know where we are and what to expect next. The EOD graph shows (second attachment)a bit more exciting as the AEX closed last Friday just under the 409 trend line upwards and above the trend line downwards from 478.
The intraday graph we will watch through the day.
The cross check DJIA from 11670 has wave three (3
downwards starting at 11256 with price targets 10538 10320 first time indication is July 25th and second is August 9th. Within this wave an other wave three has been formed starting at 11038 (3:3) with price targets 10608 10476 and time indications 24th and 25th of July.S6.
