Cautiously Bullish

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Among all the major U.S. indices, the Nasdaq 100 is the clear outperformer. At the bottom of the list is a former star, namely, the Russell 2000. While the uptrend remains intact for the most part, selectivity appears to be the order of the day. This typically occurs in the latter stages of an aging bull market. However, despite the narrowing breadth, I do expect at least some of the indices to achieve new all-time highs in the coming weeks ahead of what could prove to be the deepest correction we've witnessed since 2011. 

The new edition of the General Outlook report was recorded in two parts and published to the YouTube channel.

Click this link to access General Outlook (Part I)

Click this link to access General Outlook (Part II)

I recorded "Part I" the new edition of the General Outlook in the Live Trading Room  on 8/16/2014. In it, I dig deep into the Nasdaq 100 and Composite indices, as well as the S&P 500 and Russell 2000. I also discuss the various reasons behind my current bullish stance, putting the puzzle pieces together and offering upside target estimates for the coming weeks. 

Part II was recorded off line on Sunday. In it, I gauge market breadth by examining several relative-strength ratio charts. Are the odds of a correction increasing? To answer this question, I draw a parallel between what's happening now and what happened back in 2011 during the few months preceding the summer swoon.

I make extensive use of Elliot Wave, classic and harmonic chart patterns, and a relatively new charting style that's been steadily gaining popularity, namely, the Ichimoku Kinko Hyo system.

Click this link to access General Outlook (Part I)

Click this link to access General Outlook (Part II)

Trade well and good luck,


If you found my analysis thorough and useful, consider subscribing to the TradeWinds service on for an ongoing analysis of the U.S. market indices and a steady flow of trade setups. As always, you will continue to enjoy my free contributions on Twitter and StockTwits by following @PeterGhostine. My StockTwits page is

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