Is the current risk-on trade about to be derailed?
The look on many markets from the August 2019 low, that are moving in sync with the current risk-on trade, currently have a distinct corrective look to them.
For example, let’s look at an overlay between TBT and USDJPY. Some readers may be aware that generally speaking,...Read More »
The Case for a Short Term Peak on US and European Stocks
I have been tracking a number of highly correlated markets from the Oct time frame. The new high and low (depending on which market) appears to be the 5th wave of an impulse wave from that’s been developing from Oct 2019. So the expectation as we...Read More »
Elliott Wave Analysis of GDX
Yesterday’s upside on the GDX, potentially could be the start of a move higher for wave 5 of an impulse wave that has been developing since Sept 2018. Short term if it continues to hold above $26.63 then more upside can be seen, although it’s crucial...Read More »
Elliott Wave Analysis of EURUSD
I suspect the current rally from the Oct low at 10879 is developing as an impulse wave (5 wave rally). It seems to be missing some gyrations before it counts as a completed structure. An impulse wave that has one extended section will develop in 9...Read More »
Elliott Wave Analysis of Grayscale Bitcoin Trust (GBTC)
The new low potentially can end a corrective decline from the high made at $17.14. Before the current decline I was targeting a move towards $9.00 – 8.00 and BTC/USD to test $7400. I felt a substantial pullback would be needed to shake off the Johnny-come-lately’s...Read More »
Elliott Wave Analysis of SMH (Vaneck Vectors/Semiconductor ETF)
I have been watching the recent gyrations on the semiconductors for a while now and potentially think the SOX could well offer a clue to supporting the next likely move on the broader markets. Initially, I thought the move into the April 2019 high was all...Read More »
Elliott Wave Analysis of the Sensex
The current bounce appears to be suggesting a 4th wave of an impulse wave is likely in progress. We need to see 9 swings for an impulse wave with one extended wave, so the better look and preferred idea is to see a new low for...Read More »
Elliott Wave Analysis of the FDAX (DAX Futures)
We have been closely watching for the end to an upside corrective bounce from the Aug 2019 lows, the same look can be seen on many other European markets such as the Cac 40 and Euro Stoxx 50. Last weeks high could be enough to suggest...Read More »
Elliott Wave Analysis of the Dow Jones Industrial Average (DJIA)
The high into yesterday can be counted as the end of a double zigzag correction from the lows made at 25339. However in order to see a move lower and suggest the recent upside has ended, a strong move back below 26099, then 25952 is needed.
If...Read More »
Elliott Wave Analysis of TLT 20 Year Treasury Bond ETF
The move from the Jul 2019 lows appears to be developing as an impulse wave (5 wave rally), a new high still appears to be needed, so I favor we still see minor new highs on both ZB and ZN. Whilst TLT remains above $136.00, I...Read More »