The Deviant Standard

Traders' preparation for volatile markets.

Browsing Posts tagged Elliott Wave Theory

Well…  Monday did little to answer the question of when we’ll get a counter-trend bounce or whether we’ve already seen it.  However, it did help reinforce our stated belief that the dominant direction is down.  We’ll keep at it by looking for the setups that are working in this environment while we wait for the big wave 3 to show itself.  As always, market outlook and new trade ideas are in the daily issue of The Deviant Standard (PDF).

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Our weekend supplement (PDF) outlined the case supporting our view that the general price trend for US stocks is now down.  Our model portfolio remains completely short, although we took some partial profits on Friday.  The short-term Elliott Wave count remains murky so we have little confidence that we know what will happen intraday on Monday or Tuesday.  However, we’re confident enough in the general trend to be looking to put our profits back to work on the short side.   The game plan and stock picks are all in the Monday prep edition of The Deviant Standard (PDF).

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Read about it in the weekend supplement to The Standard Deviant (PDF)

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