Posts Tagged ‘Turning Points Using Fibonacci’

Market Sentiment: Is It Really at Bullish Extremes?

Market Sentiment: Is It Really at Bullish Extremes?

Courtesy of Elliott Wave International

At EWI’s Q&A Message Board, readers ask us dozens of questions daily. Here’s an interesting one that several subscribers have recently asked:

In Bob Prechter’s Elliott Wave Theorist, Short Term Update and elsewhere, you say that market sentiment is very bullish right now, which historically has indicated a market top. Is the sentiment really that bullish? I get a different feeling when I look around."

Elliott wave analysis is very visual; we’re all about charts. And often, a single look at a well-made chart can instantly show you what’s really been going on. Take a look at this chart from the December 2 issue of our Mon.-Wed.-Fri. Short Term Update:

stock market bears in hibernation

In the words of Steve Hochberg, the Update’s editor:

We see the bears’ retreat in the CBOE Volatility Index (VIX), which has dropped sharply the past three days to where it is nearly as low as it’s recent November 25 extreme of 20.05. We see it in the 10-day average of NYSE daily volume, which is at its lowest point since the bear-market rally started in March. And we see it in today’s release of the most recent Investors Intelligence Advisors’ Survey. The above chart shows the percentage of stock market bears, which has contracted to 16.7 percent… There are fewer bears now than at the October 2007 stock market peak and still fewer than at the June-July 2007 top in the NYSE a/d line.

By itself, a sentiment extreme — whether pessimistic or optimistic — is not a guarantee of a market reversal. (Nothing is, really: Financial markets exist in the world of probabilities, not certainties.) But couple sentiment measures with a longer-term Elliott wave pattern, and now you have a leg to stand on. 

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Elliott Wave International has extended their "downloading deadline" for their free 42-Page eBook, How You Can Identify Turning Points Using Fibonacci. The eBook, created from the $129 two-volume set of the same name, is now available free until December 7, 2009. Go here to download your free eBook.

 


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ValueWalk

The Classic Harbinger Of A Recession

By Louis Navellier. Originally published at ValueWalk.

In his Daily Market Notes report to investors, while commenting on recession, Louis Navellier wrote:

Goodbye and good riddance to the 1st half of ’22, as the focus shifts from inflation to growth.

Harbinger of Recession

Stocks were modestly in the green on the open after a tough week, but have since headed firmly into the red.  The big concern today is how much interest rates have dropped, reflecting a fear of recession.

...

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Zero Hedge

Xi Hails Hong Kong's "Rising From The Ashes" In 1st Visit Since Pro-Democracy Crackdown

Courtesy of ZeroHedge View original post here.

President Xi Jinping on Friday wrapped up a two-day visit to to Hong Kong which marked the city's 25th anniversary of its turn to Chinese rule by giving a speech seen as a "vigorous endorsement" of the 'one countr...



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Kimble Charting Solutions

Nvidia Stock On The Ropes As Semiconductors Leadership Tested!

Courtesy of Chris Kimble

It is imperative for active investors to understand the importance of market leadership, both on the way up and down.

And this is proving to be very true of the Semiconductors sector. The Semis played a HUGE role in the tech bull market, helping to push the Nasdaq and Nasdaq 100 higher and higher over more than a decade.

But, as we have covered several times this year (click here for our latest article on Semis), tech turned lower late last year… and the Semis were the warning as a leader to the downside.

So t...



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Phil's Favorites

Kremlin tightens control over Russians' online lives - threatening domestic freedoms and the global internet

 

Kremlin tightens control over Russians’ online lives – threatening domestic freedoms and the global internet

Russia has pioneered the concept of digital sovereignty and used it to severely restrict Russians’ access to the internet. NurPhoto via Getty Images

Courtesy of Stanislav Budnitsky, Indiana University

Since the start of Russia’s war on Ukraine in late February 2022, Russian internet users have experienced what has been dubbed the descent of a “...



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Politics

Kremlin tightens control over Russians' online lives - threatening domestic freedoms and the global internet

 

Kremlin tightens control over Russians’ online lives – threatening domestic freedoms and the global internet

Russia has pioneered the concept of digital sovereignty and used it to severely restrict Russians’ access to the internet. NurPhoto via Getty Images

Courtesy of Stanislav Budnitsky, Indiana University

Since the start of Russia’s war on Ukraine in late February 2022, Russian internet users have experienced what has been dubbed the descent of a “...



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Chart School

Gold Stocks Review

Courtesy of Read the Ticker

Gold miners do well when gold is higher, and borrowing and gasoline costs are lower.

Lets start with a question: Why do governments own gold?

1) The need it to support their economy during an energy crisis. If their currency is collapsing oil producers will not take fiat for settlement, but they will accept gold.
2) While the US prints money the purchasing power of the US dollar is declining, hence gold is a hedge.

A particular market action which forces traders to move gold higher is when oil moves higher while the US dollar falls. This means the US dollar is losing purchasing power against oil, therefore gold will go higher as the demand for (1) above explodes. Some history, gold moved higher sharply in these years 2007, 2011, 2016, 2020. All ...

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Digital Currencies

Scams and cryptocurrency can go hand in hand - here's how they work and what to watch out for

 

Scams and cryptocurrency can go hand in hand – here’s how they work and what to watch out for

The anonymous nature of cryptocurrency transactions is ideal for con artists. seksan Mongkhonkhamsao/Moment via Getty Images

Courtesy of Yaniv Hanoch, University of Southampton and Stacey Wood, Scripps College

When one of our students told us they were going to drop out of college ...



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Biotech/COVID-19

At last, COVID-19 shots for little kids - 5 essential reads

 

At last, COVID-19 shots for little kids – 5 essential reads

Millions of U.S. children between the ages of 6 months and 4 years will soon be eligible for COVID-19 shots. FatCamera/E+ via Getty Images

Courtesy of Amanda Mascarelli, The Conversation

For many parents of kids under age 5, a safe and effective COVID-19 vaccine could not come soon enough. A full year and a half after shots first became available for adults, their wait is nearly over.

On June 17, 2022, the Food and Drug Administration ...



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Promotions

Phil: Be the House Not the Gambler at the Fintech Conference in Vegas

 

Phil gave an excellent, educational presentation called "Be the House Not the Gambler: Using Stock Options to Significantly Boost Your Portfolio Performance" at the FinTwit Conference hosted by Lupton Capital and Benzinga on May 14 in Las Vegas. The video is set to start playing at 5:30:45, when Phil takes the stage (but you can see previous presentations by backtracking).

AGENDA 
9:00 AM Opening Remarks with Jonah Lupton, Entrepreneur & Investor
9:05 AM Wagging the Dog: How to Profit From Derivative Driven Moves in the Market with Steven Place, Founder, Investingwithoptions.com
10:00 AM The MarketWebs & The Path of Least Resistance, Christian Fromhertz, CEO, The Tribeca Trade Group
10:55 AM Fireside Chat with Gareth Mann, Founder & CEO, AlphaStream & Spencer Israel, Executive Producer, Benzinga
11:25 AM Sponsor Pitch: Carolyn Bao, VP of Marke...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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