This is my updated idea from 2nd DEC. The DOW has thrown over the upper trendline and at the same time ATR has turned positive at the end of a triangle! This may be an advance warning of a change in direction, large throwovers usually result in large corrections! Good Luck.
Sometimes the EW structure is NOT clear and in the case of FTSE I am struggling to come up with a valid 5th wave structure from the end of Primary wave 4 Circle. The light blue box marks the 5th wave structure so far with a number of possible trendlines marked. My own thoughts are that the current fall is the 3rd wave in a downwards impulse that is not yet...
I believe that SPX is now in Intermediate wave (4) which may take the form of a Triangle or Flat. If correct Intermediate wave (5) will take SPX to new highs around 2900-3000 to complete the Primary & Cycle waves. Good Luck
FTSE was rejected at the upper blue trendline and formed a double top. look for drop to lower blue trendline. Good Luck
My idea from 2nd July may have been on the right track? This updated chart shows GOLD may be completing a complex C wave of a triangle correction at around 1378. If correct GOLD will reach this level before falling in the D wave. Note that Momentum and RSI are diverging. Good Luck
DOW has reached a possible turning point with wave 5 being ,618 of waves 1-3. RSI is way overbought and a throwover from 2009 origin trendline has occured. Good luck.
My previous long term chart was violated by the FTSE rising above 7600. This new chart portrays FTSE in a large expanded Flat correction starting in 2007. Currently wave b is nearly complete possibly at around 7750 where wave c = (1.618 wave a) of FLAT wave b. If correct FTSE will then start a prolonged bear market to at least 3280. Good Luck
FTSE has continued to show strength right up to the close in 2017! If correct this weekly chart shows the final waves of an ending diagonal starting back in 2009 after the last major bear market. Pink Trendlines. All main indicators are showing strong bearish divergence and 2018 may see the start of a much more severe correction? Good Luck
Looks like a double top may have been made, wait for close below lower trendline to confirm.
This 4 hour chart looks in detail at the EW count from Sept which if correct is Primary wave 4 forming a triangle correction. Primary wave 5 circle is nearing completion and may already be complete? however my own hunch is that SPX will trace out an ending diagonal as shown to top around 2788-2790 before xmas. When SPX closes below the 2016 trend line I think it...
This chart is an alternative wavecount to my previous ideas and has FTSE in an ending diagonal with a final top of 7650-7700 range sometime in the next couple of months. I think that FTSE is currently in wave 4 of the final impulse wave c and is tracing out a triangle which when complete will have one final push to the top. As with my previous ideas it looks like...
Building on my idea back from July GOLD looks to be in wave C of a large triangle which may end around 1210 where wave (a) = (c) Good Luck
SPX looks to have completed a running flat for intermediate wave (4) and is now in wave (5) which may aim for the 2016 trend line to form a possible double top? Good Luck
FTSE is currently in minor wave 3 of Intermediate wave (3) downwards. Next targets down are 7200 and 7100. Good Luck
This chart back to 2009 shown a very solid support trendline with a PP that has been tested multiple times, if the suggested ending diagonal is correct then a break of this trendline could happen soon signalling a trend reversal. Good Luck
This monthly chart shows the Dow DJI index and the Average True Range indicator ATR which measures volatility. Note the textbook triangle in ATR in which has now reached the end of wave 'e' at the same time that the DJI has just thrown over the long term parallel trendlines drawn from waves 2 to 4 and wave 3.Good Luck
Gold seems to be now tracing out an expanding diagonal for wave Y as shown on the chart. In an expanding diagonal wave 3 is greater than wave 1 and wave 5 is greater than wave 3, hence if correct I expect gold to reach above the 1300 level and into the target zone. Good Luck
This 2 hour chart updates my earlier chart from 28th Oct in which I identified 2610 as a possible top for the SPX. If correct SPX is in an ending diagonal and has just completed wave 3 at 2604.39. Wave 4 should show a small correction before wave 5 finally drives SPX to 2610 or just above if a throwover occurs. Good Luck