Well,has been tough these last two days. After I have been shorting Euro like crazy it rose more than one figure. That hurts!!!! But I still stick to the fact that we have a major top and remain short. I post the weekly chart and that blue line you see comes from the Monthly chart and I pulled it from the very top. It is the secular downtrend line. My point is...
Possible Trend Change From green to Blue Color Green Number none
Dow Jones Running out of steam maybe be ready to blow off a top !
Yesterday’s session was interesting for multiple reasons. Firstly the S&P configuration: Opening above the previous historic high but slowly eroding intraday from that new top, to end below the previous close in above average volume. Secondly, the technicals on the index suggest a reversal could be at play from a very high RSI above 80 (overbought). Thirdly, the...
Boeing - How high can it fly? Boeing has gone supersonic and is close to leap into space... But is this time different and it will become weightless or will gravity make its influence pull Boeing back down? You can be sure that it's the later that will win causing a major plunge in a not too distance future. The reward to risk ratio no longer favor staying...
go for it but buy back in fast.50 pips max
The pair has traded sideways in a range between 3.9 and 3.4 since January 2017. Price printed a channel blow-off top in January 2017 with intervention from the government amongs other things. Price have now traded above the january highs and rejected 8 daily sessions in a row. The TCMB (The Central Bank of the Republic of Turkey) defended their currency at these...
The buying frenzy in Bitcoin, just continues to push it higher and higher. There is no time to correct properly. The rally is now close to being vertical, which isn't a good thing. I was look for this rally to may extend to 10,768 and here we are. However, the extreme buying frenzy could push Bitcoin into the 11,073 - 11,627 area, but it's time to become fearful...
Bitcoin has seen a phenomenal rally in wave (3). Only a year ago it traded near 755 against the USD and now it hovers near 8,100. I'm still looking for a little more upside closer to 9,150, but the best part of the rally in wave (3) is now behind us. As wave (2) was a simple, but deep zig-zag correction, we should expected wave (4) to be a complex structure in...
Bitcoin may see lower levels after 5 wave drop from recent high. Can be just a correction still, but in three waves, therefore be aware of a more downside.
COINBASE:BTCUSD When this breaks it will be swift and likely %50 from topping price, too early but watching for the chink in the armor!
The Transportation index in now in wave 5/ of 5 of V and should ideally make it higher to the cluster resistance near 10,756. It's clear that a five wave rally can be counted from the March 2009 low of 2,134 and a five wave rally can also be counted from the January 2016 low of 6,403. Once this five way rally is complete a decline towards at least 6,403 should...
Copper - Correction from 2.89 is close to completion The correction in wave B or 2 from 2.89 should be close to completion and wave C of 3 lower to at least 2.79 should be seen soon. I do prefer a deeper decline closer to 2.48. A break below minor support at 3.01 will confirm that the correction from 2.89 has completed and the next impulsive decline is developing.
Wave D peaked nice near the expected resistance-area and now a nice little S/H/S top confirms that wave E is developing. The ideal target for this E-wave is seen at 3,655, but be aware that triangle E-waves can be sub-normal and complete the triangle consolidation prematurely. Once this wave 4 triangle is complete a strong rally is expected in wave 5. A...
This is just a correction of my count on the September 7 post. I saw that my annotation for wave Y was off and I have corrected it, but the outcome remains the same. A top is in place for a decline towards at least 2.48. Yesterdays strong decline of 3.45% adds confidence in this count. The big question is, whether a third zig-zag rally is seen from 2.48 or a...
On August 18 2016 I called for a rally higher to 2.64 in wave iii. Along the way the structure changed, but the expected rally higher to 2.64 was still spot on. Now a little more than a year later, copper is topping near 3.12 and it should just be a matter of time before a decline to at least 2.83 and likely even closer to 2.48 is seen.
This is not my work, just sharing for investors with exposure to Equities & Stock Market Exposure. You can find the originals and others, including daily/intraday very short term "squiggle counts" here: danericselliottwaves.blogspot.com Wilshire 5000 Monthly Elliott Wave Chart: 2.bp.blogspot.com Wilshire 5000 Daily Elliott Wave Chart: 3.bp.blogspot.com Global...
Direct Line Group continues to trade within a medium term downtrend. In the last couple of sessions we have seen a rejection at the medium term trend resistance line and also the top of a range that has developed over the past few months. This rejection is likely to trigger a move to the lower end of the channel at 332p. 332p is a huge support level that has...