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Elliott Wave Analysis: GBPJPY in Correction Before Next Leg Higher
Read MoreShort Term Elliott wave view in GBPJPY suggests that the decline to 142.77 ended wave (2) in Intermediate degree. Up from there, the pair rallies as an impulse and ended Minor wave A at 149.49. Minor wave B pullback is currently in progress to correct cycle from Oct 26 low (142.77) before the next leg […]
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Elliott Wave View: SPX Starts a New Impulsive Rally
Read MoreShort term S&P 500 (SPX) Elliott wave view suggests that the selloff starting from Sept 21 high (2940.9) has ended at Oct 29 low (2603.54). We take the most aggressive view and call the low at 2603.54 as wave IV in Cycle degree. This suggests that SPX is ready to rally in a new bullish […]
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Elliott Wave Analysis: Oil (CL_F) looking to end 5 Waves
Read MoreOil (CL_F) short-term Elliott wave analysis suggests that the decline from Oct 3rd high is unfolding as a 5 waves impulse structure. In an impulse structure, the internals of wave 1, 3, and 5 also subdivide in another 5 waves of lesser degree. We propose Minor wave 3 ended at $62.52 , Minor wave 4 […]
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Brexit Progress May Turbocharge Poundsterling
Read MoreThere’s no question the most important risk event and near term key driver for Poundsterling remains to be Brexit. This month may shape up to be an important week for Poundsterling as Prime Minister Theresa May’s Cabinet discusses about it throughout the month of November. The Sunday Times reports last weekend that Mrs. May has […]
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AAPL Elliott Wave Analysis Suggests Selloff Close to Ending
Read MoreApple (AAPL) short-term Elliott wave analysis suggests that the decline from $224.23 high, i.e. Primary wave ((X)), is unfolding as a Flat Elliot Wave structure. Down from $224.23, Intermediate wave (A) ended at $206.09 and bounce to $223.49 ended Intermediate wave (B). Intermediate wave (C) is currently in progress. Internal of Intermediate wave (C) is unfolding […]
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Record Breaking Income Doesn’t Save Amazon from Tanking
Read MoreDuring the Earnings Report last Thursday, Amazon (ticker symbol: AMZN) beat Street estimates by reporting impressive revenue of $29 bn (10% higher yoy) and all-time-record of $2.8 billion quarterly net income. This compares to $256 million profit during the same period last year. The $3.7 billion in operating income also far exceeded Street estimates of […]