Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
Corona Virus Wuhan Global Pandemic 2020 Deaths Forecast and Market Consequences - 28th Jan 20
Palladium Surges above $2,400. Is It Sustainable? - 27th Jan 20
THIS ONE THING Will Tell Us When the Bubble Economy Is Bursting… - 27th Jan 20
Stock Market, Gold Black Swan Event Begins - 27th Jan 20
This Will Signal A Massive Gold Stocks Rally - 27th Jan 20
US Presidential Cycle Stock Market Trend Forecast 2020 - 27th Jan 20
Stock Market Correction Review - 26th Jan 20
The Wuhan Wipeout – Could It Happen? - 26th Jan 20
JOHNSON & JOHNSON (JNJ) Big Pharama AI Mega-trend Investing 2020 - 25th Jan 20
Experts See Opportunity in Ratios of Gold to Silver and Platinum - 25th Jan 20
Gold/Silver Ratio, SPX, Yield Curve and a Story to Tell - 25th Jan 20
Germany Starts War on Gold  - 25th Jan 20
Gold Mining Stocks Valuations - 25th Jan 20
Three Upside and One Downside Risk for Gold - 25th Jan 20
A Lesson About Gold – How Bullish Can It Be? - 24th Jan 20
Stock Market January 2018 Repeats in 2020 – Yikes! - 24th Jan 20
Gold Report from the Two Besieged Cities - 24th Jan 20
Stock Market Elliott Waves Trend Forecast 2020 - Video - 24th Jan 20
AMD Multi-cores vs INTEL Turbo Cores - Best Gaming CPUs 2020 - 3900x, 3950x, 9900K, or 9900KS - 24th Jan 20
Choosing the Best Garage Floor Containment Mats - 23rd Jan 20
Understanding the Benefits of Cannabis Tea - 23rd Jan 20
The Next Catalyst for Gold - 23rd Jan 20
5 Cyber-security considerations for 2020 - 23rd Jan 20
Car insurance: what the latest modifications could mean for your premiums - 23rd Jan 20
Junior Gold Mining Stocks Setting Up For Another Rally - 22nd Jan 20
Debt the Only 'Bubble' That Counts, Buy Gold and Silver! - 22nd Jan 20
AMAZON (AMZN) - Primary AI Tech Stock Investing 2020 and Beyond - Video - 21st Jan 20
What Do Fresh U.S. Economic Reports Imply for Gold? - 21st Jan 20
Corporate Earnings Setup Rally To Stock Market Peak - 21st Jan 20
Gold Price Trend Forecast 2020 - Part1 - 21st Jan 20
How to Write a Good Finance College Essay  - 21st Jan 20
Risks to Global Economy is Balanced: Stock Market upside limited short term - 20th Jan 20
How Digital Technology is Changing the Sports Betting Industry - 20th Jan 20
Is CEOs Reputation Management Essential? All You Must Know - 20th Jan 20
APPLE (AAPL) AI Tech Stocks Investing 2020 - 20th Jan 20
FOMO or FOPA or Au? - 20th Jan 20
Stock Market SP500 Kitchin Cycle Review - 20th Jan 20
Why Intel i7-4790k Devils Canyon CPU is STILL GOOD in 2020! - 20th Jan 20

Market Oracle FREE Newsletter

Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

The Wilshire 5000 Stock Market Index Revisited

Stock-Markets / US Stock Markets Sep 01, 2007 - 12:55 PM GMT

By: Joseph_Russo

Stock-Markets

Perceptions from May of 2007:
Four months ago, we presented Bullish: Like There's No Tomorrow , which presented a bullish view and critical-mass-breakout buying opportunity for long term-investors interested in capturing further upside potential in the Wilshire 5000 index.

We don't get fooled again:
Those adhering to the general protocols outlined in that piece are flat - as they now hold this index sternly to task - awaiting a long-side re-entry signal upon a close back above the 14991.68 level.


Edit Chart

Going Forward:

All now rests upon the success or failure of more pie-in-the-sky interventions designed to abate a yet to be quantified risk, which now permeates through the financial-sphere with the threat of a terminal cancer.

Investors:

Adopting prudent long-term measures of austerity as outlined in our Wilshire 5000 link from May - is essential to successful investing, and is the type of guidance regularly highlighted in our longer-term studies.

Traders:

Those navigating in and out of broad market indices seeking short-term speculative profits will continue to do well in strictly adhering to the price-action, which if interpreted properly, telegraphs the markets short-term intentions with stunning accuracy - as evidenced in our chart below.

Below is an actual price chart, which will appear in the “Outlook” for Tuesday 9-4-07 :

The chart below documents standing short-term trade-triggers and price-targets as captured from Elliott Wave Technology's Near Term Outlook .

For active traders of all time-horizons, there is no better road map for navigating broad market indices than the Near Term Outlook .

The Week in Review: 

The NASDAQ 100

Edit Chart

 

The NDX:

Up against resistance in its eighth-week of correction, fresh highs into the coming week may prove bearish, while an immediate sell-off to re-test the lows will likely turn the NDX more bullish near term.

That said; let's see how the balance of broad market indices' faired in closing out the month of August: 

As the financial-sphere attempts to quantify known-risks vs pending interventions, it is likely that The Dollar remain under pressure for the next couple of weeks.

The Dow has managed a respectable bounce off the lows, but remains at the lower end of its former range from May/June.

Gold continues to chomp at the bit in its quest toward breaking decisively above the large overhead triangle boundary of resistance.

Unlike the Dow, The S&P has been unsuccessful in reclaiming the lower end of it former May/June range.

Should readers have interest in obtaining access to Elliott Wave Technology's blog-page, kindly forward the author your e-mail address for private invitation.

For the first week in September, readers may visit our blog @ http://elliottwavetechnology.blogspot.com/ with out the need to request invitation.

Visitors to the blog are encouraged to browse all of the page-archives to acquire a better sense of our unique brand of analysis and forecasting services.

Until next time …

Trade Better / Invest Smarter...

By Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Copyright © 2007 Elliott Wave Technology. All Rights Reserved.
Joseph Russo, presently the Publisher and Chief Market analyst for Elliott Wave Technology, has been studying Elliott Wave Theory, and the Technical Analysis of Financial Markets since 1991 and currently maintains active member status in the "Market Technicians Association." Joe continues to expand his body of knowledge through the MTA's accredited CMT program.

Joseph Russo Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules