S&P500 elliott wave update: May 19, 2009

The S&P500 index can go back to the highs One of the hardest decisions a trader makes is to take a punt against the current trend. It is seldom profitable immediately, and he worries how far away the market will go before his view becomes the accepted thinking....

S&P 500 update: where is the top?

The S&P500 index has been recovering steadily You will recall that in my last update of 23rd April, I had warned of another move higher. Once an extending fifth wave is completed, and we get a first sell-off, we should always be on the alert for a retracement all...

How to trade a head and shoulders formation

I have added a page on this subject under Elliott Wave Magic. The link can be found on the side of this post. But first, let us take a quick look at what are the basic ingredients for a head and shoulders top. 1. There should have been a prior up trend 2. The head...