Gold: Often, Simple Forecasting Tools Are All You Need

In the following video by Elliott Wave International we will look at the gold price and "Commitment of Traders" In 2017, Gold 's rally has stalled three times in April, June and August. With April and June's price stalling at the same overhead resistance level. Back in August Elliott Wave TV said, When analyzing charts you may see a "double bottom" or "double top" but "triple tops" aren't really a thing so we should see a breakout this time. And that is exactly what happened as gold was able to break through resistance in August. Commitment of traders is a measurement of bullish and bearish conviction of traders. According to Wikipedia... Commitments of Traders is: The Commitments of Traders is a weekly market report issued by the Commodity Futures Trading Commission enumerating the holdings of participants in various futures markets in the United States. It is collated by the CFTC from submissions from traders in the market and covers positions in futures on grains, cattle, … [Read More...]

What Does “Paddle-boarding” Have to do with Speculating?

Sometimes when your mind is in the “Zone” unusual correlations will just pop into your head. According to Wikipedia, “The eureka effect (also known as the aha! moment or eureka moment) refers to the common human experience of suddenly understanding a previously incomprehensible problem or concept.”   An editor of Elliott Wave International had a eureka aha moment while paddle-boarding and in this article, he looks at Elliott Wave Setups, Cocoa and surprisingly how that correlates to of all things Paddle Boarding. ~ Tim McMahon, editor.

Understanding the Relative Strength Index (RSI)

Two of the most commonly used technical indicators of momentum in trading are the moving average convergence divergence, or MACD, and the Relative Strength Index (RSI). Today Jeffrey Kennedy is going to be looking at RSI. It was developed by legendary trader J. Welles Wilder. It is a “momentum oscillator”. As the price of a security rises, price momentum increases. The faster the security rises (the greater the period-over-period price change), the larger the increase in momentum. Once this rise begins to slow, momentum will also slow. Our NYSE ROC chart is a type of Momentum chart.

Top 3 Technical Tools Part 1: Japanese Candlesticks

Jeffrey Kennedy to name 3 of his favorite technical tools (besides the Wave Principle). He told me that Japanese candlesticks, RSI, and MACD Indicators are great methods to support Elliott wave trade setups.

Crude Oil Sinks 20% Despite OPEC Production Cuts

In the following article the editors of Elliott Wave International look at the crash in oil prices throughout 2017. In spite of a massively hyped "Cut" in production by OPEC and other Oil producing countries, the price of crude oil still tanked. See … [Read More...]

How Concerning Are Predictions Of A Stock Market Crash?

Forecasting Is Difficult At Best Typically, several times a year headlines contain predictions about a coming stock market crash. Calendar year 2017 is no exception with recent bearish calls coming from Jim Rogers and David Stockman. Since … [Read More...]

This indicator had a divergence in both 2000 and 2007; a divergence is also present in 2017

Bad Breadth Can Foreshadow Bear Markets Market breadth speaks to the number of stocks participating in an advance. Strong market breadth means a high percentage of stocks are making new highs as the major indexes make new highs. Strong breadth … [Read More...]

Robert Prechter Talks About Elliott Waves and His New Book

By Elliott Wave International Avi Gilburt of ElliottWaveTrader.net conducted the following interview with Bob Prechter recently. We thought you'd like to see it. ~ Tim McMahon, editor. ********* 1. How did you come across Elliott wave … [Read More...]