Looks like today we had an ABCDE correction, very powerful E wave, buy the dip.
In line with trend completion in the DOW and SPX.
Leading diagonal in A should be followed by another push to the new high. This should end the correction which started in Oct 2016.
Ending diagonals are good at making "surprize" push at the very last moment. Should be done today or tomorrow COB at the latest. Keep track on both indices, shorting opportunities will be immense afterwards.
GBP needs a new low, USDCAD needs a new high (1.50+), EUR will get to a new low.
The picture of the current advance is the most clear in the DJI. We need a a little but more to cap the entire 18 month advance. SPX can go do 2470-2480 and Nasdaq may try to approach 6000. Be prepared for what's coming next.
if the reversal happens before the prior high, then the entire structure is likely to be retraced.
This time I paid attention and counted everything I could. I think there is a chance to hit 2455-2460. And this will be it.
There are no more bullish waves to trace. The market has reached its final destination. Next target - below 1800.
Implies USDJPY going to 111.20 and EUR to ~1.1240. Then both down.
Need to wait for a bounce, retracement of w5 before going long.
One barrel is currently worth 2950 RUR. This has been rising for years. Crude is heading to new lows - so <26 is in the cards for Brent and WTI. 2950 / 26 = 113.
Trend continuation in xJPY pairs: swing low in xUSD and USDJPY happening together.
The correction was very deep, but the structure is intact. Long USDCAD, in line with the structure in Crude oil.
In line with the development in USDCAD - w3 down should start after OPEC. This will is calm due to OPEC, FOMC, and days-off in Europe. Monday is a day-off in the USA, but after that all is clear.