I think that the first wave down from the top is almost complete as an expanding leading diagonal, albeit
the shape is not exactly textbook!
However there is now marked divergence on the 4hr chart and what looks like an ending diagonal to
complete the c wave of the 5th wave. If correct next week may see a further small fall to complete
the pattern followed by a...
This chart suggests that NDX has completed or nearky completed the first wave down
From the 7700 top as it reaches the .618fib of the previous impulse wave.
This wave has taken the form of a leading diagonal which as nearing comletion is showing
If correct expect a rally next week. Good luck.
FTSE reached my first target T1 of 6969 and has since rallied BUT the rally has hit resistance several times at the
lower red channel trendline.
Indicators are not showing oversold divergence which opens up the possibility that a further downleg is possible
to at least T2 or lower.
The EW structure is NOT clear at present and once I have more confidence in the...
Following on from my SPX updates.
Intermediate wave (1) black finished on 11th Oct and the wave pattern since then has multiple options from an EW
This charts suggests that SPX is in a typical A,B,C correction which may reach the .618 fib level or possibly close the
open gap at 2880. At present SPX looks to be in a possible B wave and taking the form...
My post of 30th Sept suggested FTSE was taking the form of a leading diagonal.
The chart pattern since then adds more weight to this idea BUT the shape of the diagonal leaves open the
possibility of a more complex pattern developing.
Either way I expect that an initial low is close and possible targets for this are shown on the chart. At 6881
wave C of the 5th...
Following on from my chart of 1st Oct, SPX completed an ending diagonal and started a sharp fall!
Minor wave 3 blue completed yesterday and corrective wave 4 blue is now underway which may
finish in the highlighted area. Once complete minor wave 5 blue will complete this first impulse
wave down! Good Luck
NDX is following my prediction from Oct 8th and is now in minor wave 4 blue which means a correction of yesterdays wave
3 blue fall is underway. Once wave 4 completes expect a wave 5 blue fall to around 6848 or lower. Good Luck
Following up my idea from 6th Sept, NDX reached the targeted 7700 level with an ending diagonal double top.
If correct this first minute 5 wave impulse down marks the start of a much bigger decline, for now the correction of
this first wave down may aim to fill the breakaway gap but this in not necessary. A solid break and close below
7328 will confirm. Good Luck
This chart suggests that SPX is nearing an apex at aroubd 2950 ish!
Waves 2 and 4 of this impulse show alternation and good time relationship.
Wave 5 may be taking the form of an ending diagonal on falling RSI.
This coming week in Oct may set the scene for increased volatility.
A few of my followers have asked why I believe FTSE has already topped and why the decline has started.
This chart is updated from my original long term FTSE chart back in 2017 which has FTSE in a long ending
diagonal since 2009.
Note the accurate top trendline with a solid PP and multiple hits on this trendline with a set of overlapping
The rise above 7510 last week violated my idea from Sept 7th!
I still believe that wave (5) olive represents the top of a very long ending diagonal from 2009 and the current
decline is the early stages of much larger correction.
Diagonals usually occur at the end of an impulse wave or the beginning and represent uncertainty in the market,
hence the overlapping...
So the dow has joined the SPX in making a new high and finally proving that the rise
Since feb is in fact a 5th wave.
However the NDX is not joining the pack and maybe leading the downturn?
This idea has a final target for the dow just over 27000 , good luck.
So the SPX finally put in a new high meaning the Jan high was in fact a wave 3 and NOT the top!
This chart suggests a possible EW roadmap for the activity since the Jan high.
Note that SPX has created a rising wedge which threw over the higher line in late august and has since fallen
back under this line.
Given that there is large divergences in most indicators...
My idea from 21st Aug is following my predicted path with FTSE now in the middle of a 3rd wave decline.
My target for intermediate wave (3) black is at least 7147 but probably lower if the US indices turn.
Good Luck to all my followers.
This chart shows a possible EW Cycle pattern from the 2016 low which is very near completion.
If correct NDX is now in the final intermediate 5th wave which is taking the form of an ending diagonal which may
complete around the 7700 zone probably this week.
RSI is showing a very large divergence and personally I will be looking for a break of the red line to...
Following on from my previous FTSE ideas it was nice to see a textbook H&S followed by a steep drop, Hope you caught this!
FTSE looks to have completed minor wave 1 &2 blue of intermediate wave (3) and preparing for minor wave 3 blue. If correct
this will be a steep drop. Good Luck
Following on from my previous FTSE charts that show a 5 down leading diagonal from the top followed by a complex
If correct this correction just completed with a H&S pattern that may herald a bigger drop if correct.