short term tagged posts

So what’s up? It’s pretty clear by now that the peak (May 28th) is in. The decline is steep and currently oversold. I’m not a fan of overbought/oversold indicators, since they can stay in an extreme for a long time...

Let’s do a little recap first. The chart below is from May 16. I projected a top around the May 25th eclipse because the following indicators all seem to come together:

• A complete Elliott wave count (a 1-2-3-4-5 or a A-B-C-D-E) 
• The Eclipse, which often correlates with a trend reversal within 1-3 ...

While the AEX decline since the May high looks choppy on the intraday chart, it can be subdivided and counted as 9 sub-waves. And 9 sub-waves is an impulse. If this assessment is correct, which I believe, the implication is that this is the first move down of a larger down trend...

The 7 trading days since the top brings the AEX right at the previously projected first area of support. See image. While the decline looks straight on this chart (like an impulse) on the intraday chart it is actually choppy...

As projected earlier, the AEX did indeed bounce of the upper Jupiter line (red) and is now on its way to the first support region, around 350-355. Fridays spike lower was on higher than average volume (yellow arrow) so this probably  means the decline is not complete...

In the last Unilever article we wrote:

Unilever is approaching a Fibonacci price relationship at 33.30. See chart. Unilever’s uptrend is weakening. One indication of an ending diagonal is decreasing volume (yellow line at bottom). This move will soon be exhausted.

Zooming in (see the updated chart...

The AEX is 1 point away from the upper Jupiter channel line. This line is at 371 on Tuesday, slowly climbing to 372 on Friday. The AEX is in a similar situation as May 2012 where the Lunar Eclipse right after the Solar Eclipse triggered a trend change. See bottom image...

Unilever is approaching a Fibonacci price relationship at 33.30. See chart.
Zooming in (see chart below), Unilever’s uptrend is weakening. One indication of an ending diagonal is decreasing volume (yellow line at bottom). This move will soon be exhausted.

The AEX is completing a large 3-3-5 Flat pattern according to the Elliott wave principle that started at the low in Feb ’09.

A large Fibonacci time ratio indicates a potential turn date at May 10th (in calendar days). The same ratio can be found in the Nasdaq 100. See below.

Zooming in, wave C of ...

The AEX, once heavy on financial stocks like ABN, Aegon, Fortis and ING, today only has ING and AGN left. Of these only ING with a 11% weight in the index still counts as a heavy weight. So what’s in store for ING long term and short term?

ING appears to be tracing out a standard 5 wave impulse as ...