Category Archives: E-Wave

GPS Looking Lower

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GPS experienced significant downside last week, in a move that I count as capitulation under my base case. Though Friday’s unrelenting rally did make some progress in beginning to repair that decline, initial confirmation of the perspective shown under either of the two counts on the attached chart is a rally to 40 area. Until then, it is reasonably probable that GPS may have, indeed, broken down. My base case, however, remains that October low (35.46) will not be broken without a move to 43.85 at a minimum. Not planning any changes to this position, at this time.


by Xenia Taoubina,


Two Charts to Watch

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A strong move in KRFT on Friday is initial confirmation of a completed wave 4. On a micro level, however, no 5-up has emerged so far. KRFT needs to stage a 5-up of proportions that, at the very least, reach wave circle-b top at 89.00 to make it likely that all of 4 has completed. Should such a bullish development be seen, I will look to add to this trade on a pullback, as, big picture, I very much like this pattern.


Are You Buying The Dip? (Avi Gilburt)

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On Wednesday night I noted:  “The bounce this morning is most likely a corrective bounce in an a-wave, which still needs a c-wave higher to complete the red (b) wave.  So, unless I see something different into tomorrow, I am expecting the market to resolve this pattern lower over the next week.  Hopefully, it can also break the cited support to make it more clear that the larger degree correction is upon us.” (more…)