Category Archives: E-Wave

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…)

Positioning for a Down Move in SPX

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I have been exercising patience in the face of this move up and refraining from positioning to the downside too early, given that I was expecting that at least SPX 1710 will get hit and the structure to the upside looked incomplete. At this stage, with SPX having hit 1710 today and soon to be bumping up into the TL off 2009 lows, I am now ready to position for the bigger move down, and wanted to share how I think about it. (more…)

Avi Gilburt’s ES Wave Analysis

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I sound like a broken record already, but the market came right down to our support region many times yesterday and last night, but held each time. And, of course, this means that without breaking support, we are looking higher. For today, the 1695ES Fib region is the first level of resistance, followed by the Fib cluster in the 1701-1704ES region. We need a break down of 1687ES for the first signal that wave iv has begun. (more…)