Geofftv1

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About me Just retired, active interest in charting with Elliott Waves and trendlines.
Joined Scotland
Markets Allocation
12 % indices 5 % forex 1 % stocks 82 % other
Top Mentioned Symbols
UKX 43% | 59 XAUUSD 15% | 21 US 11% | 15 SPX 10% | 14
Geofftv1 Geofftv1 SPX, 60,
SPX: SPX - Lets go wave counting!
288 5 3
SPX, 60
SPX - Lets go wave counting!

Sometimes to obtain a clear EW picture it is helpful to simply count the waves! My previous posts have indicated that the SPX top was reached in Feb18 and since then we have started a downward track with SPX bouncing around the 2009 trend line. I have not changed this view! This chart shows the wave structure with a simple wave count total at the end of each ...

Geofftv1 Geofftv1 ISF, 240, Short ,
ISF: ISF (FTSE100) Chart - Clearer Picture
71 3 5
ISF, 240 Short
ISF (FTSE100) Chart - Clearer Picture

Sometimes the EW pattern shown by the ETF that tracks the FTSE100 is clearer than the UKX chart. This chart of the ISF ETF shows my current idea on the FTSE100 which I believe has completed a very long ending diagonal from 2009 at wave (5). The 2009 trend line has been broken and then retraced back below it. The final impulse leading up to (5) was difficult to ...

Geofftv1 Geofftv1 SPX, 60, Short ,
SPX: SPX- To fill the Gap? YES
567 22 9
SPX, 60 Short
SPX- To fill the Gap? YES

SPX did indeed fill the open gap with what looks like a W,X,Y correction finishing at the 78% fib level. If correct wave 3 blue should commence soon. Note the oil price has fallen over 5% in the past few days and this may be the catalyst for wave 3. Good Luck

Geofftv1 Geofftv1 SPX, 240,
SPX: SPX - To fill the Gap?
519 5 8
SPX, 240
SPX - To fill the Gap?

SPX looks to be completing an A,B,C zig-zag for minor wave 2 blue. There is a gap at the 78.6% fib retrace around 2750 which may be a magnet for completing this correction. Other gaps exist once the correction is complete which will draw minor wave 3 blue downwards in a possible larger fall. Good Luck

Geofftv1 Geofftv1 UKX, 240,
UKX: FTSE - Current wave analysis.
300 2 5
UKX, 240
FTSE - Current wave analysis.

My recent long term post has FTSE in wave V of an ending diagonal starting after the 2008 crash. This 4 hour chart shows wave C of this final wave V reaching for the red long term trendline. If correct this current impulse wave has an extended wave 5 which should reverse very quickly at or around 7847 which is 1.618 waves 1-3 and very close to the trendline. ...

Geofftv1 Geofftv1 UKX, 1W,
UKX: FTSE - Weekly Update from DEC 2017 idea.
110 2 7
UKX, 1W
FTSE - Weekly Update from DEC 2017 idea.

My long term idea from Dec 2017 had FTSE in a large ending diagonal starting after the 2008 crash which I have as wave (IV) on the chart. The red trendline has multiple touch points and a valid PP and now May 2018 FTSE is once again approaching the trendline which should act as major resistance if reached. If my count is correct FTSE is now in wave C of the ...

Geofftv1 Geofftv1 SPX, 60, Short ,
SPX: SPX - EW update
473 2 5
SPX, 60 Short
SPX - EW update

Intermediate wave (2) looks to have finished and internediate wave (3) may be startibg with a leading diagonal, the next few days will confirm, Good luck.

Geofftv1 Geofftv1 UKX, 240, Short ,
UKX: FTSE - Possible Completion Of Expanded Flat.
299 10 3
UKX, 240 Short
FTSE - Possible Completion Of Expanded Flat.

It looks like FTSE has completed wave C of the expanded flat correction ar tge 61.8%fib retrace and on diverging momentum. If correct intermediate wave 3 shoukd start soon and pull FTSE way belw 7000. Good Luck.

Geofftv1 Geofftv1 DJI, 60, Short ,
DJI: DJI - EW Update.
850 3 11
DJI, 60 Short
DJI - EW Update.

DJI looks to be constructing an expanded flat for intermediate wave (2) which may end just above the open gap at 24683 or at the 61.6%fib retrace at 24936. This short term update replaces my previous short term ideas BUT the longer term prognosis has not changed in that a bear market is in progress. Good Luck

Geofftv1 Geofftv1 UKX, 120, Short ,
UKX: FTSE - Breathe Deeply updated:
521 6 8
UKX, 120 Short
FTSE - Breathe Deeply updated:

If my wavecount is correct FTSE has started intermediate wave (3) and is about to start the 3rd of 3rd wave which is usually powerful. There is a gap to fill under the major support/resistance line and once this is broken to fill the gap I suspect the fall will accelerate. Good Luck

Geofftv1 Geofftv1 USOIL, 240, Short ,
USOIL: USOIL - EW count, 4 hr chart.
224 2 2
USOIL, 240 Short
USOIL - EW count, 4 hr chart.

USOIL has just completed a leading diagonal as minor wave 1 and a corrective,a,b,c to the 61.8%fib level. Minor wave 3 should start soon as part of the larger intermediate wave 3. Good Luck

Geofftv1 Geofftv1 SPX, 1W, Short ,
SPX: SPX - Is the top in?
638 8 7
SPX, 1W Short
SPX - Is the top in?

I note that there is a great uncertainty as to whether the 2872 top in Jan18 is the TOP or wave 3 in an ongoing bull market. This chart attempts to show the EW count from the cycle wave IV low in feb16. The trendlines are taken from the cycle waves going back to the 2009 low. IMHO SPX has topped already and quickly fallen back to test the support trendline in wave ...

Geofftv1 Geofftv1 UKX, 60, Short ,
UKX: FTSE - Breathe Deeply Updated:
122 0 4
UKX, 60 Short
FTSE - Breathe Deeply Updated:

FTSE completed intermediate wave 2 and is now in Intermediate wave 3 down which will go down to 6400 at least and probably very quickly! Good Luck.

Geofftv1 Geofftv1 EURUSD, 240, Short ,
EURUSD: Primary wave complete, indicators diverging at top.
134 0 2
EURUSD, 240 Short
Primary wave complete, indicators diverging at top.

EURUSD looks to have completed a 5 wave impulse at primary degree. If correct the initial target is around 1.17 in the region of the prior 4th wave. Good Luck

Geofftv1 Geofftv1 DJI, 15, Short ,
DJI: DJI - Sticking with my previous idea.
641 3 9
DJI, 15 Short
DJI - Sticking with my previous idea.

It is interesting to see the many bullish ideas of the DJI & SPX since the recent correction. My own view has not changed in that this correction marks the start of a much bigger correction lasting a couple of years or so. This chart zooms in to the current correction of wave 1 Blue which I believe is taking the form of an expanded flat which may complete soon at ...

Geofftv1 Geofftv1 SPX, 30, Short ,
SPX: SPX - Calm before Fall?
628 4 11
SPX, 30 Short
SPX - Calm before Fall?

Intermediate wave (2) finished around 10th Feb and intermediate wave (3) looks to be underway with a leading diagonal. If correct SPX will retrace to 50 or 61.8% fib and then fall heavily in wave (3). Good Luck.

Geofftv1 Geofftv1 UKX, 60, Short ,
UKX: FTSE - Breathe Deeply!
156 1 10
UKX, 60 Short
FTSE - Breathe Deeply!

FTSE has now been rejected by the major support line twice, hence I label Minor wave 2 blue complete. Minor wave 3 may take FTSE to 6402 127%fib OR more likely 6150 61.8%fib. Good Luck.

Geofftv1 Geofftv1 SPX, 15,
SPX: SPX - Bounce then larger FALL
633 0 6
SPX, 15
SPX - Bounce then larger FALL

This 15min chart shows the detail of minor wave 1 Blue which completed close to the major 2009 Trendline. The correction looks to be taking the form of an expanded flat which should complete at the .618 fib retrace level shown. After this Minor wave 3 will take SPX well below the 2009 trendline. Good Luck

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