PMKing Trading LLC
Market Perspective Archive April 16th 2006
φ A Medium-Term and Long-Term US Market Perspective April 16th 2006

Overview

This market perspective is based on the Elliott Wave Principle and represents a best estimate of the most probable future market direction. For more information regarding Elliott Wave Principle please see our Elliott Wave International site review here.

Legend

—
Green Line
Trend
(5 waves)
—
Red Line
Correction
(3 waves)
º º
Green or Red Circle
Possible Wave
Terminus
♦
Green Diamond
Wave Terminus
♦
Red Diamond
Wave Terminus
→ →
Green or Red Arrow
Probable Market
Direction

 
Monthly Commentary April 16th 2006
 
On the monthly chart we are working on the assumtion that Wave 5 of the uptrend that started at 1179 around the end of October 2005 terminated on 4/5/6 at 1311. We are therefore anticipating a correction which we believe started after a close below 1294 on 4/11/06 which was later than the estimated last day for the Wave 5 terminus and below the minimum Wave 5 terminus price of 1294. At this point we are short with a stop at 1315 which would invalidate our assumtion for the Wave 5 terminus.
 

Yearly Commentary April 16th 2006

On the yearly chart we are working on the assumption that the estimated terminus of Wave 5 of the uptrend on the Monthly chart is also the terminus of the Wave 5 uptrend on the yearly chart. This would be confirmed with a close below 1233 and would signify an excellent point to go short. A close above 1315 before 9/20/6 would invalidate this assuption and would indicate an excellent place to go long.

This market perspective is for your information only.  Please get professional advice before risking money on trading or investing using this information.
 
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