GENERAL ELECTRIC COMPANY, CREATIVE MEDICAL TECHNOLOGY HOLDINGS, INC., BANK OF AMERICA CORP, SPDR SELECT SECTOR FUND - FINANCIAL, SPDR S&P 500, NEOVASC INC
S&P 500, Nasdaq Composite, Dow 30, Nikkei 225, DAX Index, FTSE 100
US 10Y, Euro Bund, Germany 10Y, Japan 10Y, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
Base of Wave 4 Triangle supported at 1.618 Fib level (projected from top of Wave 1); Diversion between (D)-(E) Triangle leg and MACD histogram; Slow Stochastics approaching Oversold; Longer term target @3.618 Fib extension (1.6720) ... Risk / Reward > 1:3 Optional shorter term Target @ 2.618 Fib extension (1.61700)
Support Zone may suggest good chance to enter a Long Position of the Aussie against a (presently) weaker Yen. Fibonacci tool left out, by mistake... my apologies! Note that the Support / Resistance Zone coincides with the 1.68 Fibonacci Level; Additionally, Wave V ends exactly at the 2.618 Fibonacci Level.
Fundamentals/Market Sentiment RBA recently reduced interest rate but AUD seems still strong. USD rate hikes are not expected anytime soon... will USD data continue to show signs of weekness? Technical A new Elliot Wave Formation is possible on previous Resistance turned Support Zone; 200 Simple Moving Average line provides possible additional Support; Stochastics ...
The Triangle suggests trend continuation... to be resumed after Price Action retracement. After a long and healthy uptrend, Double-Top and Overbought Stochastics might indicate Temporary Uptrend Exhaustion; For Countertrend traders, this might present a good potential opportunity window to short; Recent Market Memory resistance levels suggest possibilities of ...
Interesting potential of Wave ( v ) starting at conjunction of: Test of 1.618 Fib level resistance Bottom of Wave ( iv ) level reaching its limit at top of Wave ( i ) level Bollinger Bands extreme being reached Resistance of 50 Simple Moving Average (on the close) ...to complete Wave 5 Risk / Reward > 1 : 1.5
Market Indecision at Wave 4 Triangle, to be potentially followed by a breakout to the upside, respecting and continuing the previous Bullish trend (weakened CAD, due to correlation with Bearish trend on Crude Oil). Shorter term Risk/Reward ratio (based on Fibonacci + recent Price Action Highs) about 1 : 1.6 Longer term Risk/Reward ratio (based on Fibonacci ...
1.51 level = previous Support, turned Resistance Established downtrend -> Consolidation over 1.51 level -> possible Downtrend continuation 1.51 level broken to the downside 1.51 level being tested, at Resistance, with possible Price Action exhaustion (overbought) Target -> Market Memory -> Low formed near 1.48258, from MAR to JUL 2013