Owner, Prometheus Market Insight
Contributor's Links: Owner, Prometheus Market Insight

Erik is the owner and senior market technician for Prometheus Market Insight and has been performing chart analysis since 1995. The software program that he developed to monitor long-term stock market trends has correctly identified 92% of the cyclical turning points in the S&P 500 index ... more

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Short-Term Forecast For Tuesday, Aug. 3
The S&P 500 index closed slightly higher today, holding at recent highs of the uptrend from March. Technical indicators are moderately bullish overall, favoring a continuation of the advance.
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Short-Term Forecast For Monday, August 3
We are 6 sessions into the beta phase rally of the short-term cycle that began on June 27.
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Intermediate-Term Forecast For Saturday, August 1
We are 19 weeks into the rally phase of the intermediate-term cycle that began in March. The magnitude of the last decline phase signals the likely transition to a bearish intermediate-term trend and favors additional losses during the next phase.
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Short-Term Forecast For Friday, July 31
The S&P 500 index closed moderately higher today, returning to previous highs of the uptrend from March. Technical indicators are moderately bullish overall, favoring a continuation of the advance.
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Short-Term Forecast For Thursday, July 30
We are 4 sessions into the beta phase rally of the short-term cycle that began on June 27.
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Short-Term Forecast For Wednesday, July 29
The strong advance today indicates that the beta low (BL) of the current cycle likely formed on July 24. We are 3 sessions into the beta phase rally of the short-term cycle that began on June 27.
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Comments

Latest Comments
Stock Market Continues Test Of Critical Support Level
4 years ago

That is an excellent question, Alexis, and worthy of a long, in-depth discussion. However, the short answer is that market prices are based on the decisions of all market participants, regardless of whether they are basing those decisions on rational, fundamental data or irrational imperatives such as greed and fear. Essentially, market behavior reflects the sum total of all knowledge and emotion driving the decisions of its participants.

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DIA SPDR Dow Jones Industrial Average
QQQ PowerShares QQQ Trust Series 1
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Owner
Prometheus Market Insight
January 2000 - Present (20 years 11 months)

Education

University of Florida
MS
1993 / 1995
Computer Engineering
University of Virginia
BS
1989 / 1993
Computer Engineering

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