Following on from my idea of 11th Oct FTSE looks to have completed an ending diagonal and is in minute wave 2 which may bounce off the red lower trendline at the 78% fib before reversing sharply downwards. Good Luck
My previous ideas have placed GOLD in a large triangle starting in July 2016, of course this idea is still valid BUT as always with EW analysis there is another alternative. I am now swaying towards this new idea which has the C wave of the A,B,C correction tracing out a diagonal which would complete at around 1375, the fib 38% retrace level. If this idea is...
This is an updated idea of my FTSE idea posted at the 7600 top in late July and revisions since. I still believe that 7600 was the top and the last 3 months have created a diagonal (3-3-5) waves that is nearing completion instead of the leading diagonal originally thought. On the 1 hour scale FTSE is tracing out a possible final wave 5 which should finish around...
This chart drawn at 4 hour timescales links in with my previous recent idea of US30 from 2000, 'are we there yet' here it is clear that all the trendlines and waves meet at a critical zone around 23000 soon!
This chart portrays my ongoing idea that US30 is very near the top of a supercycle degree wave that will complete very soon. At present US30 is riding along the top of multiple trend lines both in the short and long term and at 23065 wave 5 circle = wave 1 circle which is a common ratio. Bullish optimism continues at extreme levels which is a common 'herd...
Gold reached the 61.8% retrace of the previous wave at 1260ish and has started a correction which has just reached 61.8% of the previous impulse wave at a I expect a decline now to 1286 23% fib or 1281 38% fib. Good Luck.
Following on from my idea of 2nd Oct, US30 may be in terminal Ending Diagonal supported by large momentum divergence. Above 22877 idea violated as wave 5 would exceed wave 3. God Luck
It is a while since I posted on SPX and over the last few months I have examined the wave structure since the low in 2009 in detail. My thoughts are similar to those on the DOW in that a terminal 5th wave is very near completion! When wave 3 is extended wave 5 often = wave 1 and this idea shows that wave 5 is indeed very close to the length of wave 1 now! and on a...
This long term chart shows the relationship between GOLD and the DOW/GOLD ratio over the last 45 years or so. If the DOW falls heavily as many analysts think is possible (end of Supercycle) then GOLD should recover strongly as shown on the chart to complete wave 3. Thoughts?
This chart is an alternative to my DZZ ide on 15th Sept and has FTSE in a falling wedge. Currently wave 4 is underway which when complete should lead to final wave 5 finishing at around 7160 sometime next week. Good Luck
This chart revisits my idea from 2nd July where Gold is in a large triangle but this time overlayed with the dollar index. Note that the peaks and bottoms line up well indicating that gold seems to have a close correlation with the dollar index. It looks like the dollar index has just reached the bottom of a 5 wave impulse down and is starting a correction...
This chart idea has FTSE finishing a truncated 5th wave in 2007 and the 2008 crash being wave A of an expanded FLAT with wave B finishing at 1.272 wave A (common ratio) in July 2017 around 7600. If correct FTSE is now starting wave C which will be a 5 wave impulse down finishing below the start of wave A !! Note the continuing divergence in RSI. I hope I am wrong...
The rise in US30 seems unstoppable BUT I believe we are now in the final wave 5 of a Supercycle that may end in the 22700 region. Time will tell - Good Luck
This chart provides a Target for wave 5 of around 23000 where Wave 5 = Wave1, this is a popular ratio. This top when reached may be the peak of a Supercycle which if correct means future falls will be very significant! Good Luck
US30 is nearing a possible turning point, ATR & RSI are diverging. There are possible options for wave 4 red and these are a triangle as shown OR an expanded FLAT, either way US30 should decline around 22400 point. Good Luck
Given the strength in the SPX I think that a double zig-zag OR Flat may be under way W,X,Y (red) on the chart. The X wave is taking the shape of a double zig-zag and possible targets are 2901-2906.Good Luck
Hopefully those who followed my previous charts on FTSE have been successful! At this time I think that FTSE may be in a diagonal to complete the double zig-zag , see chart. Good Luck
Counting the EW waves in the FTSE structure since the previous top has been difficult to say the least! This chart has FTSE in a double zig-zag correction with the blue Y wave taking the form of a zig-zag with the b wave looking like a combination FLAT-Zigzag-Triangle. If correct FTSE will complete the triangle and then fall to below 7300 Good Luck