So eventually USDCAD managed to deliver its 5th wave, and its completion is getting closer - possible targets can be 1.3298 or 1.3496. Then a correction should happen, and given the proportions and relative durations of the moves it should last some good three months. Possible targets are given on the chart. After the correction there will be even more upside...
EUR looked very promisingly bullish when it approached 1.08 and bounced upwards to above 1.10 on July 21st. I hoped for a quick start of an upward looking C wave, but it didn't happen the way I wanted. The movement from 1.08 to 1.112 had the momentum high enough to consider it impulsive, however it did not deliver five waves, but only three. I think the way to...
HI All! EUR is is willing to test some more downside and is just telling us that it's not yet ready to go up. I think the setup may look as follows, the C leg of the correction down is extending itself into an ending diagonal.
Good morning all, We may have a pleasure to observe a good quality leading diagonal in USOIL, which is a relatively rare pattern. Leading diagonals appear in wave 1 or wave A position in impulses or corrective stuctures, and consist of 5 overlapping waves all of the waves being zigzags (sometimes waves 1-3-5 are impulses). Leading diagonals are usually deeply...
CAC40, similarly to DAX, NIKKEI, and possibly SPX are trying to complete their movement up and the final movement before trend reversal seems to now become very clear: it's most likely an ending diagonal . This has become apparent after the most recent upward wave has completed itself and revealed its structure. It was a zigzag with its internal subdivisions of...
Good morning all, I published something similar some time ago, exploring the correlation of Gold and SPX during the 2008 sell-off. I would like to come back to this one more time as I think we are going to see a very very similar setup soon - and so I wanted us to be prepared. It's all in the chart, basically. the way it relates to 2015 is as follows: 1) Gold...
NIkkei seems to have the most strength among its peers (CAC, DAX, S&P) and is the one who has the highest chance to hit a new high this time. This will be combined with another leg up in USDJPY. The wave structure for Nikkei is incomplete and the most recent decline this week seems to be a mere correction as it has failed to develop an impulse of proper velocity....
Hi All, Based on the market sentiment metrics and wave counts the current position in Gold seems like an extremely attractive opportunity for a long entry. Two alternatives exist: 1) enter right now, SL below 1072 2) wait for the first few resistances to be broken, including MA200 on 1H chart which the latest downtrend seemed to be tracking under. SL also below...
Good morning! Crude is running its C wave of X down, and is soon going to complete its final wave 5, so, after that, a bounce is supposed so happen which will ignite wave Y of the multi-month correction. I think the decline should end at approx 47 where we have a fibo confluence 0.768 of wave W and where wave 5 has one of the possible termination targets of...
Here's a quick update of USDOLLAR labelling, there is still one more upswing left in the dollar, so the corresponding instruments will deliver their share of up- and downwaves. Two more days to do I think to the reversal.
Good morning all, Here's an update on Gold EW setup - the violent flash-crash that we've seen earlier today is still part of the structure of wave 3 of an ending diagonal that is developing, so a bounce is expected after we complete the last wave of the down impulse (if it's not completed yet). Based on the behavior of the correlated instruments I think we need...
Again, as three months ago, I am expecting SPX to reverse in the nearest days. In order to deternine the point of reversal I am checking major stocks for their wave structure. AAPL is one of them and here it is - looks like a major top is about to be set next week (pre- or post-earnings). A very significant divergence on MACD, combined with the volume declining...
Here's a reversal picture for MSFT: the last wave 5 up never looked complete, so the market has finally decided to go for it. I am not sure if the top will be hit before or after the earnings, but this top is going to be significant for MSFT and for the whole SPX index as well. In its upward movement of 2009-2015 MSFT has retraced so far 0.886 of its prior decline...
Good morning all. I was playing with the correlation of SPX vs EUR vs XAU , specifically I was interested in the reaction of the market to the dollar and Gold in the times of the crisis. What I discovered was that in 2008 both EUR and Gold declined till the very end of wave 3 of the sell-off in SPX. That means that till almost the very end of the panic Gold was...
Good morning! Here's a quick update on USDOLLAR (DXY). The structure of the X wave becomes more clear, in fact it unchanged since the last update: we are in for a zigzag, which started May 14th and the market is still tracing its C wave, which is impulsive and is slower than A wave, so adheres to what's usually expected from a zigzag. Not too many changes, I...
I had a more detailed look at Nikkei this morning, it may sound ridiculous but Nikkei may easily have a 10% upside opportunity. There is still one relatively large wave 5 incomplete so looks like we are in for a couple extra months of growth. The target may be at approx 22600 which is 1.382 of .
AUDNZD executed all three waves of a flat correction and is heading down, a good first impulse is completed (visible on 1H charts). I expect the movement to continue and to reach the target of 0.92 of wave 5 of a larger movement. The correction was large enough in terms of duration which makes me believe it will be a simple one (no X waves this time). Note that...
The biggest show of the year will be the reversal of S&P and other markets together. When if finally happens some good opportunities may present themselves to the sane-minded investors. I thought S&P had already reversed, but now I have doubts. It is still possible, but looking at other markets I find that there is still some good share of optimism left. What I...