Geofftv1

Geofftv1

FTSE did not reach the 0.236 retrace of wave (1) on the first attempt and now looks like a combination correction is in progress and nearly complete. FLAT-ZIGZAG-ZIGZAG. If correct this correction will reach 7410 before wave 3 down starts.

Geofftv1 Updated 

The EW structure in GOLD is very difficult to figure out lately but zooming down to the 15min level enables a pattern to be obtained. This 4 Hour chart shows my continuing idea from 29th Oct which has GOLD currently in a W,X,Y correction back to the 50% fib retrace level at 1309. Wave (x) has completed along with minor wave 1 of the (Y) wave. A small decline to...

Geofftv1

DJI looks to have completed wave 1 and is now in wave C of a FLAT correction which may terminate at the 0.618fib retrace (very soon) OR if further strength left at the 0.786 fib. Two of the Three open gaps have been filled. Good Luck

Geofftv1 Updated 

In previous posts I have indicated the FTSE will likely fall when the US markets top out, this looks to have occurred late last week. FTSE is in minute wave 1 down and will likely complete at around 7345 which is the fib 61.8 retrace of previous impulse and hitting the bottom red trend line. Note these trend lines were acting as resistance BUT now will act as...

Geofftv1

I will use the DJI for future charts instead of US30 as this provides gap information which is important when markets are moving quickly. DJI topped on 9th Nov at 23556 which is very close to my predictions and the 1.618 fib level shown on my previous chart. A five wave down has completed and DJI has retraced 61.8% of this BUT there are two open gaps at which may...

Geofftv1 Updated 

The sharp rise on Friday voided my previous shorter term idea, so back to the drawing board! I still believe FTSE is in wave C of a FLAT correction of Intermediate wave (1) leading finally to wave (2) This last wave C is a 5 wave structure which is now in the terminal wave 5. Looking at all the EW possibilities I can only see an expanding diagonal in construction...

Geofftv1

I have updated my last SPX chart and re-labelled the EW count which I now think better fits the current wave structure. It is possible that SPX has completed this cycle with an ending diagonal as shown and a double top? Momentum & RSI have both diverged strongly and both short and long term trendlines have been hit! This coming week should be very interesting. Good Luck

Geofftv1 Updated 

My previous charts have used US30 data which includes out of market hours futures and does not show gapping. This chart of the final 5th wave in DJI shows that a 5th wave is or is very nearly complete along with the gaps that at some point will be filled. Wave 5,V has hit an exact 1.618 fib ratio of waves 1-3 which is a common extension for 5th waves, in addition...

Geofftv1

This chart shows my idea for FTSE Cycle wave 5 which started in Jan 2016. As in my previous FTSE vs DOW chart FTSE has been in an ending diagonal since 2003 and wave 5 of this diagonal has also taken the form of an ending diagonal that completed in July 2017 at 7600. At present FTSE looks to be completing a corrective FLAT of intermediate wave 1 which should not...

Geofftv1 Updated 

I have always noted that the FTSE tends to follow the DOW but not always with the same EW count and structure? This chart show the relationship over 20 years including the last bear market of 2007/8 which was supercycle wave 4. Note that for Supercycle wave 4 the FTSE completed a zig-zag structure whilst the DOW made a flat structure finishing some years later,...

Geofftv1 Updated 

US30 completed a 4th wave triangle and is now in the latter stages of wave 5 to top somewhere around 23560 as indicated in my previous longer term idea. Good Luck

Geofftv1 Updated 

My alternative idea on GOLD of 15th Oct was violated, hence my original idea of 2nd July seems to be still on track! At present GOLD is completing the X wave of an (W,X,Y) FLAT correction with a diagonal which should complete around 1260 before starting the Y wave back to the W wave origin as a 5 wave impulse. If correct this Y wave should provide a good entry...

Geofftv1

FTSE seems to be forming an expanding diagonal for this first wave of wave 3, internal waves of this diagonal also include digonals! If FTSE exceeds 7560 this idea is void but if correct expect a turn soon and fall to below wave 7430. Good Luck

Geofftv1 Updated 

This chart suggests a top in SPX at 2610 soon, where wave 5 = 0.618 wave 1. Trendlines from waves 2 to 4 and projected from wave 3 intersect this point. Good Luck

Geofftv1

FTSE has traced out a complex pattern over the last few weeks! This chart portrays wave 3 starting as an expanding leading diagonal which is now being corrected by a complex FLAT, possibly a running FLAT that is in wave C. If correct this wave will complete soon and start a major fall in wave 3 of 3. Good Luck

Geofftv1

This chart suggests a top in NDX at 6442 where wave 1 = wave 5 after an extended wave 3. The trendline drawn in parallel from waves 2 to 4 and projected from wave 3 intersect this point at wave 5? which may be a valid top. Good Luck.

Geofftv1 Updated 

US30 has broken through the long term trendline back to Jan2016 and is in a possible throwover extended 5th wave. At 23558 US30 will reach 1.618 * waves 1 to 3 which is a normal length of extended 5th waves. If correct expect a sharp reversal once this point is reached. Good Luck

Geofftv1 Updated 

FTSE ha just completed an expanding leading diagonal (quite rare) and minor wave 1 blue. The wave 2 retrace may take FTSE to 61.8% fib or higher before wave 3 starts. I note that US futures in DOW & S&P have also just completed an impulse wave down with an extended 5th wave. This may be the start of a bigger correction to come? Good Luck