Dax Review 26th April 2015

The long term Elliott Wave Count I am running with, suggests that we are still likely in red wave 5 of blue wave 3. I can not see a lesser degree wave 4 clearly in that red wave 5, so the last week's consolidation could be part of that. Either way, still in blue wave 3 inside green wave 3 and looking for long positions on shorter time frames. Stochastics are of course overbought but can stay that way on a weekly and monthly chart here beyond shorters' pockets.

 
 

The lower band of the daily bollingers (green) was pushed last week, with the overall sidewards pattern, pushing to the right of the multiple bands, appearing similar to the set up before the break out at approx. 10500 zone. The daily stochastics have been softening as hoped for in my post 3 weeks ago, but thus far the momentum continues to suggest a consolidation. I think up first, before down to test that 10500 zone, so looking for longs on intraday chart.

 

The 4hr bollys were also getting tagged to the lower band and unless we see price drop through that zone 11000-11600 zone with any persistent force, I am looking for long positions up to retest the upper band near 12100 first. The stochastics here would support a push up into those upper multiple bands and if that were to complete red wave 5, then into the 13000s would fit the green pitchfork channel from the first chart.

The Fractal Nature of Capital Flows – Government Running Wild

by Martin Armstrong

Dax Review 19th April

Well, the index softened this week, but I do not think we have seen the end of blue Elliott Wave 3 yet. Here are my counts on the monthly & weekly charts:

 

 

Price made it to the lower band of the green bollys on the daily (20x2) below but would expect more rolling up the green dashed pitchfork (above) to tease the early shorters to distraction! Given the monthly count, not much to do but buy weakness but would prefer the daily stochs below to be pointing uphill or get to oversold as per last week's post.

Dax review 12th April 2015

The blue arrows highlight consolidation lows in this uptrend since the end of 2011 on a daily price bar chart. The multiple bollingers create visible ledges from which price and stochastic momentum lows combine to provide zones for long entries. At present, this recent uptrend has left the low bands trailing in its wake, but a pull back to approx. 10000 might see the lower bands consolidate near the breakout zone from January, and that momentum indicator reset lower.