Monday, June 22, 2009

BETFI EW Count + H&S Pattern



In the chart above we have a basic Elliot Wave count on BETFI Index since February lows. The five waves completed and an ABC type correction started. We may be in the last leg (C) of the ABC correction to the uptrend which may target the 12.000 points area around the last Fibonacci retracement (61.8%) of the February - May rally.

In the chart above we also have a Head & Shoulders pattern with bearish implications below the neckline around 15.000 points. The projected target would be at least 10.000 points (roughly the distance between the head and the neckline projected below the neckline). We can notice the well defined left and right shoulders around 18.000 points, the head around 20.000 and the neckline around 15.000 points. Also note the increasing volume towards the head and the lower volume around the right shoulder.

Friday, June 19, 2009

System trading signals based on the 18-Jun-09 closing price:
bWAITHOLD+HOLD+Build-h-
ATBAZOBIOBRDCOMIIMP
Signal TradingBuySidelinesBuyBuySellSell
Stop Loss0.61380.26110.15008.000.29960.3745
Target0.80000.22000.16508.500.26000.3500
Close0.66000.25500.16008.150.28000.3500
Short-Term TrendUpUpDownUpUpDown
Intermediate TrendUpUpUpUpUpUp
Long-Term TrendUpDownUpDownDownDown
bWAITBUILD+h-h-WAIT
PTRRRCSNPTELTGNTLV
Signal TradingBuySidelinesBuySellSellSidelines
Stop Loss0.33290.04280.230012.63159.971.2305
Target0.40000.03600.250011.50145.001.1000
Close0.34500.04200.238011.80149.501.1600
Short-Term TrendDownUpDownDownDownUp
Intermediate TrendDownUpUpDownUpUp
Long-Term TrendDownUpUpDownUpDown
WAITWAITWAITWAITWAITWAIT
SIF1SIF2SIF3SIF4SIF5BETFI
Signal TradingSidelinesSidelinesSidelinesSidelinesSidelinesSidelines
Stop Loss0.85600.72230.43340.61530.893517070
Target0.75000.65000.40000.55000.800015000
Close0.80000.67500.40500.57500.835015953
Short-Term TrendDownDownDownDownDownDown
Intermediate TrendUpUpUpDownUpUp
Long-Term TrendUpDownDownDownUpUp
HOLD+HOLD+HOLD+HOLD+HOLD+Hold+
BETBETCBETXTBETNGDJIAEURRON
Signal TradingBuyBuyBuyBuyBuyBuy
Stop Loss3285200031547584504.1700
Target3500220033050087004.2500
Close3377208932348585564.2256
Short-Term TrendDownDownDownDownDownUp
Intermediate TrendUpUpUpUpUpUp
Long-Term TrendUpDownUpUpDownUp

Tuesday, June 16, 2009

System trading signals based on the 15-Jun-09 closing price:
WWAITBUILD-WAITWAITBLD-
ATBAZOBIOBRDCOMIIMP
Signal TradingSidelinesSidelinesSellSidelinesSidelinesSell
Stop Loss0.61850.25110.18197.810.27440.3948
Target0.80000.30000.16009.000.33000.3500
Close0.66500.27000.17008.400.29500.3690
Short-Term TrendUpUpUpUpUpUp
Intermediate TrendUpUpUpUpUpUp
Long-Term TrendUpDownUpUpDownDown
WWAITBUILD-Wh-WAIT
PTRRRCSNPTELTGNTLV
Signal TradingSidelinesSidelinesSellSidelinesSellSidelines
Stop Loss0.33290.04090.272912.09160.001.0788
Target0.40000.04500.240013.50150.001.3000
Close0.35000.04400.255013.00156.001.1600
Short-Term TrendDownUpUpUpDownUp
Intermediate TrendDownUpUpUpUpUp
Long-Term TrendDownUpUpDownUpDown
WAITWAITBUILD-SellBUILD-HOLD-
SIF1SIF2SIF3SIF4SIF5BETFI
Signal TradingSidelinesSidelinesSellSellSellSell
Stop Loss0.90000.76000.48360.64000.989818600
Target1.00000.00000.40000.55000.800017000
Close0.90000.77000.45200.61000.925017680
Short-Term TrendUpUpUpUpUpUp
Intermediate TrendUpUpUpUpUpUp
Long-Term TrendUpUpUpDownUpUp
HOLD-HOLD-HOLD-HOLD-HOLD-Hold+
BETBETCBETXTBETNGDJIAEURRON
Signal TradingSellSellSellSellSellBuy
Stop Loss3700230036054088004.1700
Target3400210033050084004.2500
Close3525218834251486124.2267
Short-Term TrendUpUpUpUpUpUp
Intermediate TrendUpUpUpUpUpUp
Long-Term TrendUpUpUpUpDownUp