SPX buying the dips after a Double correction

SPX elliott wave

Hello fellow traders. The video below is a capture from the SPX Strategy of the day video from 12/19/2016 held by  Daud Bhatti. SPX Trading strategy: Our Elliott Wave forecast suggests the index is within bullish cycle from the 2084.6 low. It's missing a swing to the upside, looking for 2316.85 area. As Daud explained in the video, while the price holds below 12/13 peak, double correction can be seen in wave (b) blue. As always, we recommended our members to go with the trend. Suggestion was … [Read more...]

Top Financial Companies Performance

Financial companies sector performance chart

Financial Companies Review In our previous article we made an Overview of the financial sector and we mentioned that the overall performance was below average as most of the Top Financial Companies stocks were in the negative territory since the start of 2016. The acceleration to the upside came during the 4th quarter of the year after the US Election which was as always a driving event as the lows was already in place few days before it . Our Dark horse Comerica ( CMA ) continued its … [Read more...]

GBPUSD Elliott Wave Forecast 1.17.2017

GBPUSD 6020170116212942

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave W ended at 1.2198 and wave X ended at 1.2432. Internal of wave (Y) is unfolding as a double three where wave ((w)) ended at 1.2037 and wave ((x)) bounce is proposed complete at 1.2317. The pair has since broken below 1.2317, suggesting that the next leg lower in wave ((y)) of (Y) has already started. Near term, pair is correcting the … [Read more...]

GBPUSD Elliott Wave Forecast 1.13.2017

GBPUSD 6020170112210917

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2037 and wave X bounce is proposed complete at 1.2317. Near term, while bounces … [Read more...]

Elliott Wave Analysis: DAX

DAX-24020170111170909

In this technical blog, let's take a look at the $DAX instrument Elliott wave forecast we had since the beginning of 2017. Below is the $DAX 1/07/2017, 4 hr  weekend updated chart suggesting the rally in DAX from 11/9/2016 is unfolding as a Elliott wave triple three structure (also known as 11 swing sequence), where wave (W) ended at 10798, wave (X) ended at 10400, wave (Y) ended at 11487, and second wave (X) ended at 11404.3. With a break above previous wave (Y) at 11487, instrument is showing … [Read more...]

GBPUSD Elliott Wave Forecast 1.12.2017

GBPUSD 6020170112093724

GBPUSD is showing a 5 swing bearish sequence from 12/6 peak (1.277) which favors more downside. The decline from 12/6 peak is unfolding as a double three where wave (W) ended at 1.2198 and wave (X) ended at 1.2432. GBPUSD has since broken below wave (W) at 1.2198 which suggests that the next leg Wave (Y) has already started to the downside. Internal of wave (Y) is unfolding as a double three where wave W ended at 1.2037 and wave X bounce is in progress as a double three and can reach as high as … [Read more...]