Saturday, January 23, 2010

Weekly 3LB Update for week ending 1/22/10

Weekly 3LB update (week ending 1/22/09)
a new high or low will change the reversal price and the midpoint


SPX -new low WEEKLY REVERSAL
trend=no; direction=down (1 bar)
rev= 1144.98; mid= 1118.37




Dow Jones -new low WEEKLY REVERSAL
trend=no; direction=down (1 bar)
rev= 10618.19; mid= 10395.59




Nasdaq Comp -no change (now trading below mid)
trend=up
rev= 2194.35; mid= 2255.76



DXY -new high
trend=no
rev= 76.57; mid= 77.43





Gold -new low WEEKLY REVERSAL
trend=no; direction=down (1 bar)
rev= 1174.20; mid= 1133.80




10 Year -no change
trend=no; direction=down (2 bars)
rev= 38.62; mid= 35.37

30 Year -no change
trend=no; direction=up (2 bars)
rev= 40.11; mid= 43.53


SLV -no change (now trading below mid)
trend=up
rev= 16.50; mid= 17.36

BAC -no change (trading below mid so downtrend still in control)
trend=down
rev= 17.46; mid= 16.02

AXP -new low WEEKLY REVERSAL
trend=no
rev= 42.39; mid= 40.49


AMZN -new low WEEKLY REVERSAL
trend=no; direction=down (1 bar)
rev= 138.47; mid= 129.95




M -new low (this was a confirmation week of the trend change)
trend=no; direction=down (2 bars)
rev= 19.82; mid= 17.70



VIX -new high WEEKLY REVERSAL
trend=no; direction=up (1 bar)
rev= 17.91; mid= 22.61




XLF -no change (looks like its going to follow the rest of the market)
trend=no; direction=down (1 bar for 12 weeks)
rev= 15.24; mid=14.65

BKX -no change (same as XLF)
trend=no; direction=down (1 bar for 12 weeks)
rev= 47.69, mid= 44.96

WTI Crude Oil -no change (trading below mid)
trend=up
rev= 73.89; mid= 78.32

Powershares USD Bull (UUP) -no change
trend=up
rev=22.32; mid=22.70


Goldman Sachs -new low WEEKLY REVERSAL
trend=no; direction=down (1 bar)
rev= 183.18; mid= 168.65




TLT -no change
trend=no; direction=down (2 bars)
rev= 99.01; mid= 94.15


Apple Computer -new low WEEKLY REVERSAL
trend=no; direction=down (1 bar)
rev= 211.98; mid= 204.87





Sugar #11 -new high
trend=up
rev= 27.08; mid= 27.93

Monday, January 18, 2010

3LB & EWT




Using a WTI monthly chart as an example can different break counts help identify Elliot Waves?

By drawing trend lines between the high and low prices for each break will they show the different wave counts? I'm using 2,5,8 and 13 line breaks in this example.

Any suggestions?