$FTSE (UK 100) Index Elliott Wave Analysis (2.19.2014)
Index broke to new highs today. Preferred view is that dip to 6608 complete wave X. While above B wave low @ 6716, expect more upside toward 6854 — 6886 to complete wave ( A ). It’s from there Index should turn lower to correct the entire rally from 6416 low. We don’t like selling [...]
$USDCAD in a double corrective structure
USDCAD is showing 5 swings down from 1.1195 peak with no RSI divergence which means sequence is incomplete. Therefore, we look for another low ideally to 1.1000 to complete 7 swings down from 1.1195 peak. Pair should see an upside reaction from the orange area (1.0965 – 1.1000) which can take it to new highs [...]
$SPX500 poised for a break to new all time high
Trend in Indices is bullish and so is human nature so every dip is an opportunity to buy in some degree. SPX500 decline from 1851 – 1737 was nothing more than a 3 wave move. RSI study shows 2 sequences with divergences which further confirms the decline was corrective and in 3 waves. Rally from [...]
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