Added blue alternate 3-wave a-b-c count for wave 5, consistent with the possible Ending Diagonal as shown on the Weekly idea.
Specific Fibonacci target extension will be more accurate once wave 2/b completes, so I'll hold off on being too specific for now...
EFA looks to be in the final phase of an expanding Ending Diagonal to complete wave c off the 2009 low. There may be a more bullish interpretation, but let's see how overhead resistance holds, and how the internal wave patterns form.
That b-wave was a nasty sucker's rally, but don't go getting all bearish looking for a major crash. As long as support holds there's a major bullish move setting up. See longer-term idea for targets. While I'm currently short, will be looking to enter longs later this week. Not recommending catching a knife here, but aggressive long entries should use caution...
EFA Elliott Wave picture for my I-Fund buddies. The b-wave can reach wave 1 highs in a flat, or even make a higher high in an Expanded Flat. Wave 2 targets would be higher, around the bottom of wave a, in a flat scenario.
Like IWM and other indices, EFA has reached the wave 1 target region. Anticipating wave 2 pullback into support. More whipshaw forecast for the next month or so.
For my TSP "I-Fund" investor friends. EFA has the same trading objective...
Playing Fibonacci Pinball very well off the lows and hovering over support. Will need to take a broader look IF support should fail.
EFA is following the smaller-degree pattern of many indices. Alternative larger-degree pattern shown in blue. Some divergences annotated on technicals.
This a bearish trade on EFA using a 10/23/15 vertical put spread. Go long the 10/23 $57 put and short the 10/23 $55 put, with a limit order at $0.65 per contract. The max gain per contract is $135, and the max loss per contract is $65, for slightly more than a 2:1 risk/reward ratio. Hold until expiration.
This stock index which measures the performance of developed country large and mid-cap stocks, not including US and Canada has taken it on the chin in recent weeks. It's highly levered to European stocks, and therefore has been impacted by the Greece turmoil. However, supportive monetary policy in the eurozone, as well as signs of improving growth make for a...
We have a very clear triangle pattern, note that we are moving up on the last wave of the pattern. Please note that this pattern suggest that all waves are formed by tree waves, so please note that there should be a correction before going up. Also note that this is a bearish pattern, which means that once pattern finishes we should see the price fall.
The iShares MSCI EAFE ETF seeks to track the investment results of an index composed of large- and mid-capitalization developed market equities, excluding the U.S. and Canada.
Top then holdings are Nestle (switzerland), Novartis (switzerland), Roche (switzerland), HSBC (UK), Toyota (Jpn), Shell (UK), Bayer AG (Germany), BP (UK), Commonwealth Bank of Australia &...
