GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
UK OIL & GAS PLC ORD 0.01P, LLOYDS BANKING GROUP PLC ORD 10P, VAST RESOURCES PLC ORD 0.1P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), VODAFONE GROUP PLC ORD USD0.20 20/21, PREMIER AFRICAN MINERALS LIMITED ORD NPV (DI)
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
If this chart pattern plays out we are looking at a huge downside acceleration.
EW count is on the precipice of a third of a third of a third wave lower.
Also classic H+S top with neckline break needed for confirmation (target 83 area).
Short 110.50, stop 115.50, target sub 85 level coming weeks/months. 5/1 return/risk.
If the picture perfect H+S Top pattern is correct then we are about to head down in wave 3 to break neckline and head towards 65.30 area.
Short, stop above right shoulder, t/p 65.30
Given the sell off in recent weeks it looks like we are well into a bigger picture wave D of triangle B).
Current thoughts on a roadmap....
D looks too shallow at the moment so expect a low in the 1180-1220 area in coming weeks as USD strengthens a bit more and EURUSD to maybe 1.13 ish.
Then a rebound from around 1200 back to around 1300 over Q3 (a few months ...
Ahead of the trade tariffs kicking in the USD/CNH exchange rate trades 666
6.6666 to be precise
Head and Shoulders top playing out nicely. Currently in wave iv triangle of larger wave 3 (or C) down to 108-111 area where there is a confluence of 61% retrace of the 2011 upswing plus H+S top target and also 3/c = 1.618* a(1)
Already short but you can add to shorts here at 127.25 with a stop 2 points higher and looking for perhaps 17 points on the downside in ...
If this topping pattern in Boeing plays out (potential double top) and we are now in wave c/3 to the downside then this could signal the trade war is going to get very ugly.....potential target in the 250-260$ zone....
Triangle of minor fourth wave still in play (just completed c possibly). Higher in d then pullback in e to finish wave iv before thrust higher to 3.80% in coming weeks/months to finish wave 3/C before wider consolidation at higher yield levels
Break and backtest from underside of long term uptrend suggests possible fall away lower now in a wave iii/c for at least 10% lower
Possible H+S top formation in XLE
Could lead market to the downside along with XLF which is also about to break a 2+ year uptrend
secondary top in place on FOMC now headed down in wave 3 or c towards (beyond?) 2.60s%
XF financials/banks ETf on the brink again as it strains to maintain the 2 year+ uptrend from early 2016. Close below 27 area could lead to a swift 8%-10% more downside.
Leading the market lower post FOMC as 10s-2s yield curve flattens further
Follow up to posts from around a month/6 weeks ago....Italian 10yr yields headed higher to at least 3.80% imo.
Currently in a wave iv triangle (just finished c, need to do d then e) before a thrust higher in yield towards target in coming few weeks/months
Looking for a minimum 2450 on downside in coming weeks (maybe by end June!) in a c wave although if it turns out to be a third wave lower then it is going much much lower!
High beta stocks (small cap and tech etc) are the last bastions of FOMO in this central bank QE and zirp/nirp fuelled blow off bubble in stock markets. Once high beta rolls over the whole market could fall very precipitously (>20%). Looking at a turn/top in IWM imminently.
Looks like DOW may have formed a secondary interim top around 25400 (truncated C wave of wave 2 or B).
Short from January. Considering adding to short here at 25300 with a stop at 25500 with initial target circa 23300.
Return/Risk ratio circa 10:1
If this EW count on Nasdaq Comp #IXIC is correct then we are very close to (within 1%) of a MAJOR MAJOR TOP..... wave v of v) of 5 of 5) and there is a LONG LONG way to go on the downside.....
The rising wedge pattern in Intel INTC looks to be breaking - if this is the case it could be a leading indicator for the rest of the market (potential 20%+ downside from here)
Looks like we finished wave 2/B higher and now set for a C/3rd leg lower to low 2.60s %