Elliott Wave view on Chesapeake Energy Corp (ticker symbol: CHK) suggests the rally to 2.17 ended wave (B). This suggests the stock has turned lower in wave (C) and can break below August 7 low (1.26). The stock however needs to break below 1.26 to confirm the bearish view and avoid a double correction in […]

SPY broke above July 27 peak and showing incomplete short term sequence from June 3 low. This video talks about the short term Elliott Wave path.

After the 18% gap on the news of Saudi Arabia’s oil refinery attack, Oil has retraced. This video looks at the Elliott Wave path.

Elliott Wave view suggests the rally in Nikkei from August 26, 2019 low is unfolding as an impulse Elliott Wave structure. In the 1 hour chart below, the rally to 21890 on September 13, 2019 ended wave (3) and wave (4) pullback ended at 21662. Internal of wave (3) unfolded as an impulse in lesser […]

In the bigger picture, Bitcoin has been in sideways consolidation since topping out at $13880 on June 26. It did a 3 waves pullback to $9049.54 on July 17 and since then has been sideways. Further correction in larger degree can’t be ruled out as a double zigzag structure from June 26 high, but the […]

Last week, ECB (European Central Bank) decided to reactivate the quantitative easing (QE) programme by €20bn a month. This time the program will be open-ended until Euro Zone’s inflation and growth outlooks return to satisfactory levels. In other words, it’s quantitative easing in perpetuity. ECB said the purchasing will only end shortly before the next rate […]