Ewj: elliott wave

A bigger Head and Shoulders .
The red lines for more SELL Signals .

 

The Market is stronger than expected .
The short positions should have been stop out .
Now we be heading for SPX 1300 :eek: .

 

Evening Star :eek: .
If the Market closes below SPX 1200, we should short again .

 

SPX down move is quite aggressive today. The price may have reached a short-term cycle top yesterday. If that's true, the down trend may last 3~4 weeks. But the above TA could be wrong.

 

Those four false SELL Signals again .
But this time may be different .
Wave 3]1) or 2]b) might have ended .
Targets may be SPX 1150, 1100, 1050 as Wave 3]2) or 2]c) .

 

SPX seems to be holding on a trend line support this morning.
Let's see how it goes from here.

 

Price continues to fall and broke the hourly chart trend line before noon time (ET).

 

Lower high and Lower low .
Another SELL Signals .
Target SPX 1170 .

 

Buy the rumour, sell the news .
Will Earnings Sink the Market?
Google did it. JP Morgan did it. Goldman Sachs did it and Alcoa did it.
They reported earnings, gapped up and declined thereafter. In fact, Google's post earnings decline reduced the Nasdaq 100's (Nasdaq: QQQQ - News) market cap by some $10 billion.
Another pattern the ETF Profit Strategy Newsletter pointed out last week is that the Nasdaq has declined following Intel's earnings announcement 13 out of the last 15 times when the Nasdaq was within 2% of its 52-week high. The same is true for the technology sector (NYSEArca: XLK - News).
http://finance.yahoo.com/news/Will-Earnings-Sink-the-etfguide-128760071.html?x=0&.v=1

 

False alarms again .