ASX ($XJO): Showing 5 waves up from 2/7

$XAO-ASX 6020170219042015

In this Technical blog we are going to take a quick look at ASX ($XJO-ASX) All ordinary from Australia cycle from February 2017 lows, here's the short review of previous blog from February 1, in which the index was showing 5 swings corrective sequence from January 09,2017 peak & we were looking for 1 more leg lower at our blue box buying area. But then index broke the 1 hour invalidation level & truncated the last leg lower. Since then index has rallied significantly & broke to new … [Read more...]

NASDAQ Composite: Elliott Waves calling higher

COMPQ-240-1-25 edited

in this technical blog, we are going to take a quick look at past performance of NASDAQ Composite charts from January 2017, which we presented to the clients at Below is the 4 hour chart from January 18,2017, showing the sequence of higher highs in the index from November 04,2016 lows. Also if we count the swing sequence, we can clearly see that the price action from November lows looks to be in 9 swings or 5 swing sequence, which needed some more upside to reach the … [Read more...]

Starbucks (SBUX) Ending Correction and Turning Bullish

Starbucks daily Elliott Wave Analysis

Starbucks Corporation (NASDAQ: SBUX) began the new year slightly below its long-term plan as revenue only improved by 7% and earnings per share rose 11%. The company continues to target earnings growth of between 15% and 20% each year through 2021 with its aggressive expansion plan, which aims to add 12,000 new locations over the next five years to boost its store base by 50%. Consequently , investors shouldn't panic to the short term macro-related weakness and focus on the bigger picture of the … [Read more...]

ASX All Ordinary ( $XAO) showing incomplete pattern

ASX Mid-term Elliott Wave Analysis

In this Technical blog we are going to take a quick look at ASX (XAO) All ordinary from Australia is correcting the cycle from November 9,2016 lows. Where as the structure from January 09,2016 peak suggesting the index has broken below the January 23 low (5661), as shown below the 4 hour chart of ASX from January 31, 2017. And has open extension lower, showing 5 swings bearish pattern from the peak. The structure from the peak looks to be overlapping, hence suggesting it's corrective structure, … [Read more...]

AUDUSD 5 wave cycle completed: Now turning lower

AUDUSD 5 wave cycle completed

AUDUSD 5 wave cycle from 12/23 low is proposed to be over at 0.7608 and pair is now turning lower. Yesterday, we mentioned that a break below 0.7511 would negate another high to complete wave (A) and suggest that 5 wave cycle from 12/23 low ended already at 0.7608. Today, pair failed to make a new high above 0.7608 and even though 0.7511 low is not yet broken, pair is trading heavy at the moment and also the pivot at 0.7511 low in our distribution system has been broken which adds conviction to … [Read more...]

DAX Intra-day Analysis: Wave 3 in progress

DAX Elliott Wave Analysis 1.25.2017

DAX extend the rally today and broke to a new high above blue (3). Index has reached 2.618 - 3.236 extension area where black wave ((iii)) can complete and we can see a pull back in black wave ((iv)) followed by more upside towards 11866 - 11951 area to complete red wave 3. We can see that DAX has broken above the parallel channel  on the chart which is a confirmation that DAX rally is unfolding as an impulse and we are still in wave 3. As per the wave theory, once red wave 3 is complete, we can … [Read more...]