S&P 500 Daily and Weekly Candlesticks

The potential “doji” star top on the Weekly was clearly negated with the market sporting another bullish continuation stick. The S&P
finished on the highs for the day and week. There is nothing remotely bearish about these candles….

Daily Weekly

Andy’s Technical Commentary__________________________________________________________________________________________________

 S&P 500 Weekly with the 8,13 and 55 week EMA
I’m going to keep highlighting various interesting Moving averages because I
know that these get followed by a large number of participants. I think the
weekly 8 (red), 13 (green) and 55 (blue) exponential moving averages highlight
the usefulness of MA analysis. Bulls don’t seem to have anything to worry as
long as the 8 week EMA stays above the 13. Check out the way the 55 week
EMA held PERFECTLY twice.

It’s actually quite RARE for countertrend

waves to hit and reverse at exact Fibonacci
levels*, but you have to believe there are a
ton of sell orders positioned at 1229, the
61.8% retracement of the entire decline. This 55 Week EMA holds twice
area will provide resistance on the “first go.”

8/13
bullish
cross
*It’s much more common for waves flowing in the same
direction to adhere to Fibonacci relationships.

Andy’s Technical Commentary__________________________________________________________________________________________________

 S&P 500 June e-Minis ~ (240 min.)
Reprinted from 4/18/10
a?
If there is a way for a wave to take longer to c?
complete, then assume that it will….

f
d
b
g b?
“w” e “x”
c
-5-
c
a
-3-

a
“x” -1-
b -4-

d -2-
The “orthodox” crowd won’t like this count, but this is another good
b alternative. The prolonged congestion higher in the middle of the pattern
could have been one of those “diametrics” (seven-legged corrections). This
a wave count suggests more sideways or higher price action before we
conclude the wave up from early February. A break of 1175 would damage
e this idea.
“y”
c (X)

Andy’s Technical Commentary__________________________________________________________________________________________________

 c
S&P 500 June e-Minis ~ (300 min.)
a
If there is a way for a wave to take longer to
complete, then assume that it will….
b
f

d
b
This sure looks like a triangle
g with a “thrust” that is just
“w” “x” beginning….

c e
-5-
c This overlapping price action in the middle of
the progression highly suggests the
a presence of a corrective “x” wave
-3-

a
-1-
-4-

-2-
The market held key support last week and now seems to have completed a
triangle b-wave. The “thrust” is just now underway, so it looks like the first few
b days of next week will have an upward bias.

(X)

Andy’s Technical Commentary__________________________________________________________________________________________________

 “y”
c

S&P 500 June e-Minis ~ (60 min.)

a
-c- -b-
-d-

-a-
The triangle might
have concluded here.
-e-
b
f

-b- -c-

-a-

One good target for this setup would be 1237 for a = c. The “thrust” should achieve
75-125% of the widest part of the triangle. This would give a range between 1220 and
g 1236. The midpoint (100%) would give us 1228. If a triangle did conclude at either
“x” 1197.50 or 1201.50, then those levels should be solid support for the short
term/daytraders looking to ride this “thrust.”

Andy’s Technical Commentary__________________________________________________________________________________________________

 Sugar #11 - Daily (Non-Log)
Sugar, once the “hottest” commodity on the board, has now fallen 50%.
However, there are some signs that this current washout is coming to a
“2” conclusion. The markets seems to be breaking down out of a triangle
-2- formation, which suggest that the next leg down might be the conclusion of
this move. The entire wave resembles an “impulsive” five wave structure. If
the final Wave “5” looks like “1”, then we should get a bottom near 14c/lb in
the next several days.
-4-
“1” -1-

-3-
2

The light blue line would be the

Elliott Wave Channel for the
proposed “impulse” lower. -5-
1 4
a

-b-
3 c
“4”
5 e
“3”
-a-
d
-c-
b

Andy’s Technical Commentary__________________________________________________________________________________________________

 DISCLAIMER WARNING DISCLAIMER WARNING DISCLAIMER

This report should not be interpreted as investment advice of any

kind. This report is technical commentary only. The author is Wave Symbology
NOT representing himself as a CTA or CFA or Investment/Trading
Advisor of any kind. This merely reflects the author’s "I" or "A" = Grand Supercycle
interpretation of technical analysis. The author may or may not I  or A  = Supercycle
trade in the markets discussed. The author may hold positions <I>or <A> = Cycle
opposite of what may by inferred by this report. The information -I- or -A- = Primary
contained in this commentary is taken from sources the author (I) or (A) = Intermediate
believes to be reliable, but it is not guaranteed by the author as to "1“ or "a" = Minor
the accuracy or completeness thereof and is sent to you for 1  or a  = Minute
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is not for everyone. (1) or (a) = Sub-minuette
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