Stock picking is losing favor. On the other hand, passive investing is growing in popularity. This fits with the stock market’s Elliott wave pattern. The mania is not over, but the end might be closer than many investors realize
EURUSD on the monthly timeframe trading in a larger balance between 1.0482 and 1.145 (rough estimate) since the start of 2015. Its been more than 2 years and EURUSD is trading is the tighter range on the larger timeframe. Now EURUSD is trading at the edge of the top balance. In the last view on EURUSD we viewed 1.0651 as a critical support zone for the uptrend to continue
Nifty likely to open gap up today around 9940 levels which is perfectly normal for a bull market sentiment. But then historical charts shows increased risk on long holdings as Nifty Futures have 10 more unfaded gaps in 2017 alone which indicates that new buyers are coming up at every gap up scenarios and every pullbacks. Street is now anticipating 10,000 the psychological 5-Digit magical figure.
On Fridays trading session price opened lower though the trading sentiment on Fridays trading session is positive price maintained to close below thursdays pullback low reference. Value formed lower to overlapping and trading sentiment turned to negative despite one timeframing higher for 5 consecutive trading sessions on Daily timeframe.
Volume profile is a key study when comes to understanding the auction trading process. Volume Profiles will show you exactly how much volume, as well as relative volume, occurred at each price as well as the exact number of contracts for the entire session. It is a visualization tool to understand the high activity zone and low activity zone.
On Mondays trading session price is able to find a new higher equilibrium compare to the Fridays session as value is created higher and market sentiment too revived to positive mode despite Fridays negative close. Entire June trading session is so far in a compressed 100 point trading range between 9600-9700.
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The Elliott wave model often indicates a stock market outlook that’s at odds with the sentiment of the crowd. But, that’s okay. The crowd is usually wrong at major market turns. For example, two years ago on May 9, 2015, the bull market was six years old and the third longest in history. A few days earlier, CNN Money said: As the bull market gets longer and longer, investors are getting jittery.