The AEX is still holding above the lower trend line. With the options expiration out of the way, the AEX is clear to pick direction. The USA indices were up on Friday (SP500, Nasdaq) while the DOW was flat due to bad IBM Q1 results. The preferred scenario still favors a bounce up from here...
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The AEX counts best as an ABCDE ending diagonal that needs 1 more leg up. See the April 12 article. Wave D either ended in February or is ending right now, in which case wave D is a triangle. Regardless, in both counts, wave E up is needed to complete the pattern.
Notice the extraordinary amount ...
Read MoreThe AEX is on its way to an important Fibonacci time relationship date. Note two important highs, 13-Jul-2007 and 18-Feb-2011. Using a standard 61.8% (golden ratio) and applying it to the 2 tops, we arrive at 30-Apr-2013 (when using trading days) or 11-May-2013 (calendar days).
Also note a short ter...
The short answer is “No”, not by a long shot. As I have said earlier, I think the market will only bottom in 2021 and in this article I will explain why I believe that.
To look at important turning points in the market, it often helps to use fibonacci time ratios...
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