Bigger Than A "10% Correction"? Every Big Bear Grew From a Cub
The famous "10% correction" that market pundits talk about sounds so nice and tidy, so predictable and tolerable. It's as if this "cute little correction" came neatly wrapped, looked like an M&M candy character, and smiled at you and your family after you open the box. If only it were so.
http://www.elliottwave.com/freeupdates/archives/2010/05/17/Bigger-Than-A--10-Correction-.aspx
Euro: Nowhere to Hide?
Six months ago, almost every forex trader "hated" the U.S. dollar. Today, everyone "hates" the euro.
In end-of-day forecast for the EUR/USD on Friday, May 15, editor of EWI's Currency Specialty Service Jim Martens made the following comment to his forex subscribers:
A great deal is being made about the bullish sentiment toward the dollar. ...more than 90% of those polled put themselves in the bullish camp. Obviously, sentiment toward the dollar's competitors is running at a bearish extreme.
http://www.elliottwave.com/freeupdates/archives/2010/05/17/Euro-Nowhere-to-Hide.aspx
Market Insight: Stocks Oversold? Expecting a Bounce?
Don't be surprised if stocks stage a rally, says EWI's Chief Market Analyst.
In the May 20 issue of his Short Term Update (online now), here's how EWI's Chief Market Analyst Steve Hochberg describes the day's market action:
How broad-based was [Thursday's] decline? All the stocks in the Dow Industrials closed the day lower. All the stocks in the Dow Transportation Average closed the day down. All the stocks in the Dow Jones Utilities Average closed the day in negative territory. And of the 500 stocks that comprise the S&P 500, 497 of them closed the day down.
http://www.elliottwave.com/freeupdates/archives/2010/05/21/Market-Insight--Stocks-Oversold-Expecting-a-Bounce.aspx
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