This Elliott Wave blog is dedicated to sharing Fibonacci ratios and other technical analysis for forex signals, index futures signals, options signals, and stock signals. Elliott Wave Principle puts forth that people move in predictive patterns, called waves. Identify the wave counts, and you can predict the market.
Wednesday, April 13, 2016
Elliott Wave Indexes
This is my stock RadarScreen in Tradestation. Notice how the indexes are solidly in the green yet all my options position stocks are well in the red. That's when you know you've picked the right stocks to short as they are extremely weak relative to the rest of the market. In addition, I feel this is also an internal barometer of strength for the overall market as well. In addition, today there are 144 bearish signals on my proprietary indicators and only 12 bullish signals. We also have gap opens now in the market which, at this stage and with this price action, can easily be interpreted as exhaustion gaps. I continue to feel this market's bull run is on borrowed time and I'm very happy holding my put spreads in place.
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