Geofftv1

Geofftv1

DOW has just completed an impulse wave after cycle wave 4 which is either the final top or more likely the first wave of the final 5 which may take the form of an ending diagonal to a final top that is wave 5 = 0.618 waves 1-3. The next few days,weeks will be very interesting. Short term I think dow is in wave C of a flat correction meaning that when complete a...

Geofftv1

Zooming in on my long scale FTSE chart of May29th I believe the ending diagonal of the B wave in the FLAT is nearing completion. Calculated target is 7689 = 1.382 * FLAT A wave. However I would not be surprised if FTSE stops at or near the previous high of 7600ish before starting the decent. Originally I thought that the final top may have been in BUT wave (4) of...

Geofftv1 Updated 

It looks like US30 may be completing the B leg of an expanded flat as part of Intermediate wave (4). If correct the ending diagonal will terminate very soon and the C leg will take US30 down to at least the start of the B leg and probably further. Good Luck

Geofftv1

Revisiting an idea I had some months ago this chart places the correction from the top in 2000 as an expanded flat which is still in progress! The wave structure in this expanded flat is wave (A) = Zig-Zag, Wave (B) = double Zig-Zag, W,X,Y and Wave (C) still to come. A set of trend lines connects the points where Wave W=Y and Wave A=B and a final expanded flat...

Geofftv1

My last idea of a FTSE double ZZ was violated and it looks like a FLAT of some format is in progress. The lower trend line has a PP and accurate touch points and the FLAT may stop there at the previous high of 7446 to firm a regular FLAT and a DT. However given the recent strength it may continue higher to the top trend line to firm an extended FLAT. Good luck.

Geofftv1

FTSE now forming a triangle which means the correction from the 7746 top is not a clear downwards 5 wave and more likely the first ZZ in a double ZZ? My chart still pencils in 7000 as the target. Any other ideas will be greatly appreciated. Good Luck

Geofftv1 Updated 

Looking at the SPX I think it is now in the C wave of a regular flat and will decline in 5 waves to 2300 which is the .236 retrace of wave (3) AND 1.236 of wave a in the flat. This should complete intermediate wave (4) after which wave (5) will take SPX to new highs. Good luck

Geofftv1

Following on from my 3rd wave idea on 25th Apr I still believe that gold is in a wave (3) and possibly about to start the 3rd wave of wave (3) which is usually the strongest wave. In the near future gold will probably drop to the main support trend line at about 1245 before staging a bounce. If gold carries on down through the main support trend line this wave...

Geofftv1

To add to my previous posts on ftse, this chart uses trend lines anchored by a ppp to enhance the idea that ftse is now in decline after reaching the top. I expect ftse to decline to around 7000 soon. Good luck.

Geofftv1

The recent huge rise in the FTSE had me confused but I still think my last idea is correct "nearly" I have modified the wavecount slightly as I believe the huge rise in the FTSE was a correction of a previous extended wave 5 which quickly retraces back to the first wave in the prior wave. If correct FTSE will now retreat in minute wave 5 to complete minorwave 3. Good Luck

Geofftv1

My idea on the DJI is that the current intermediate wave (4) is taking the shape of a double ZZ. The first ZZ has completed and the correcting FLAT looks to be almost complete. Wave (4) has NOT even retraced .236 of wave (3) yet so I do not think it over. If correct the next ZZ should start soon and take the down below 20360. Good Luck.

Geofftv1

The fall in the current minute wave 4 took out my last idea! Re-examining the chart and moving the degree down 1 level fits better and minute wave 4 has reached the fib 50% retrace of minute wave 3. This may be the turning point to start minute wave 5 up to minor wave iii. Good Luck

Geofftv1

My wave count has gold in minor wave iii of intermediate wave (3). It looks like minute wave 4 has just completed a ZZ with minute wave 2 a FLAT. Minute wave 5 is in progress to the minor wave 3 target of 1309. If gold retreats below 1263.35 this wave count is incorrect. Good Luck

Geofftv1

My last idea turned out to be a flat correction followed by a sharp decline as predicted. Moving on I think FTSE is now in wave iv of wave (3) which should reach 7167 at least. The 5th wave may reach the .236 retrace of the prior primary (5) wave at 6988 and this point will be either C of an A,B,C correction or (3) of a 5 wave correction? Good Luck

Geofftv1

I have spent some time going over my long term FTSE chart and here is my updated idea which seems to fit common EW alternation and fib levels. Wave 5(5),V looks to be complete but has not reached the common .618 value of waves 1-3 which is at 7631 as per the blue dotted line. My gut feel is that we may have a final thrust up to this level via an extended flat...

Geofftv1

Following on from my last idea (Flat or Wedge) I believe that FTSE is in the process of completing a FLAT at around the 78.6% retrace of A. The C wave should take FTSE to the 38.2% retrace of the prior impulse wave (5) at 7149 ish. Good Luck

Geofftv1

Looks like FTSE is tracing out the B wave of an A,B,C in either a FLAT or WEDGE formation, either way expect the C wave to start soon. Good Luck.

Geofftv1

Following on from my idea on the complete ending diagonal it now looks like FTSE is in the middle of the first corrective wave which looks like a possible A,B,C retracing to either the .618 0r .764 level of wave (5). There are multiple tests of the resistance trend line marked and my best guess is there will be a further test of this line at the B,b point and...