Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Advanced Technical Analysis - OSX

By

PrintPRINT

Note: the following analysis is formulated as an assimilation of Fibonacci, DeMark, Elliott Wave and other technical indicators. It is offered as education and not intended as advice in any way.

We're updating our OSX technical note from last week (11/4/04). As we said then: "In the short term, though we have not seen hourly Demark trend exhaustion indicators, we are seeing some hourly momentum divergences and a nearly complete Elliott wave correction (an ABC zigzag) that has nice overlapping peaks and troughs, indicative of a corrective pattern down from the 10/7 peaks...it would be ideal if the OSX registered a new low beneath Monday's low at 113.77 to complete all the "parts" of the correction. The analysis then suggests a move higher on any decline below 113.77 for a possible move to new annual highs in the 135 area (possibly higher)" (not advice).

Yesterday's session did indeed produce a new low beneath 113.77 for the OSX and it has done so on larger hourly momentum divergences, on hourly Demarks that are ready to register (in today's session), and with a nearly complete "5" waves down from both the 10/27 peaks and the 11/5 peaks. These are the pieces of technical evidence we were looking for to suggest a short-term bullish trend (not advice). Should trade continue lower through 110, we would be forced to stand aside and re-examine the technical indicators.

< Previous
  • 1
Next >
No positions in stocks mentioned.

The informatio= n on this website solely reflects the analysis of or opinion about the perf= ormance of securities and financial markets by the writers whose articles a= ppear on the site. The views expressed by the writers are not necessarily t= he views of Minyanville Media, Inc. or members of its management. Nothing c= ontained on the website is intended to constitute a recommendation or advic= e addressed to an individual investor or category of investors to purchase,= sell or hold any security, or to take any action with respect to the prosp= ective movement of the securities markets or to solicit the purchase or sal= e of any security. Any investment decisions must be made by the reader eith= er individually or in consultation with his or her investment professional.= Minyanville writers and staff may trade or hold positions in securities th= at are discussed in articles appearing on the website. Writers of articles = are required to disclose whether they have a position in any stock or fund = discussed in an article, but are not permitted to disclose the size or dire= ction of the position. Nothing on this website is intended to solicit busin= ess of any kind for a writer's business or fund. Minyanville management= and staff as well as contributing writers will not respond to emails or ot= her communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.<= /p>

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE