This is the PowerShares DB Commodity Index. With more than 40% of the index weighted in different forms of oil (Light, Brent, Heating, and RBOB), it resembles the charts of crude and Brent we follow but with a more bearish elliott wave count. Circle wave iv may be underway (crude is up 2.5% right now) and I have thrown up a cluster of Fibs in order to identify a...
Short term BABA will likely retrace some of the recent rally as it runs into a confluence of moving averages. Will need to break through SMA Zone before reaching target area.
The Elliott Wave structure of Boeing from the 158.83 high on February 20, 2015 is clearly not an impulse wave which means it must be viewed in the context of a correction. The structure also counts very nicely as a Double Three labeled WXY. Notice how MACD and RSI show momentum divergence from wave W to Y into the 200-day moving average and bounced from there. The...
5 wave decline with a dragonfly doji in the position of the 5th wave. I am expecting a 3 wave counter trend rally into the green Fib zone. Larger trend is now down. A break of 134.40 invalidates idea.
The area highlighted in blue is an a, triangle b, c correction. I am hoping that three wave decline is only wave a of a larger ABC. If so, it requires another leg down into the buyzone.
This is a short term chart using 5 minute candlesticks. From 1.12952 high to the recent low of 1.1181, we have completed an impulse wave down. A 3 wave correction is due. Down side is limited for the next few hours.
The rise from 1.4139 is impulsive (5 waves). This implies the trend is up. However, after 5 waves a correction is due. Ideal entry zone is between the 38.2% and 61.8% Fibonacci retracement levels. Areas in blue are real support. Wave count invalidation is all the way down at 1.4139. This analysis is being made to supplement the Technician's 4th Trade and provide...
