We have seen the heroes of the NDX suffer big falls of 20% or more over recently. Apple, Netfix, Facebook have all given their investors a shock! IMO this is just the start of a much bigger shock as wave 3 gathers strength. The support line has been breached and wavev 3 will draw NDX to below 5000 or more. Good Luck.
FTSE looks to be entering a decisive area of intention. Multiple overlapping waves signify a diagonal structure which can only occur in waves 1 or 5 of an impulse or waves A or C of a 3 wave correction. The support line going back to July 2017 has been broken a number of times and a solid close below 6870 would suggest a very bearish scenario. Alternatively a...
It has not been easy to figure out the FTSE EW pattern since the top and I have suggested in previous charts that FTSE may be creating a leading diagonal. The pattern has become a bit clearer recently and my prediction of an impulse wave down since the top has NOT changed although I have modified the EW labelling as shown on the new chart. At present FTSE looks...
My previous extended flat correction idea was voided but I still believe that the current bullish push higher is a corrective wave. Wave 1 corrections are often deep as the bulls feel that the wave 1 low is another buying opportunity in a never ending rise! It is now possible that DJI is completing wave c circle of intermediate wave (2) black which if correct...
Following up my previous NDX update. The election is over and the FOMC rate decision comes later today. NDX has completed intermediate wave (1) black and is now in wave c circle of intermediate wave (2) which may complete somewhere in the highlighted area. If correct intermediate wave (3) black will pull NDX much lower. Good Luck
My last DJI chart suggested that DJI had completed an expanded flat correction for intermediate wave (2) black. This chart adds weight to that idea and expands on my thinking and deduction: On the 4 hour chart which is my favourite for medium term EW analysis the final impulse wave can be seen terminating in the wave (V) olive top. Intermediate wave (1) black...
This chart presents tge possibility that todays high marks the end of minor wave 2. Wave 2 may have taken the form of an expanded flat with todays 5 wave impulse The C wave finishing in an ending diagonal. Bearish momentum divergence is evident, watch closely in the next day or so.
Following on from my post of 28th Oct which had NDX in a leading diagonal. This looks to have now finished BUT the relief rally looks very weak indeed so far! If the diagonal low fails this will open the path for a much larger fall. Good Luck.
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 momentum divergence. If correct expect a rally next week. Good luck.
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 perspective! 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...
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...
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 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...
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. Good luck