Short term Elliott Wave view in Oil suggests the decline from 123.77 did 5 waves down ended an impulse as wave ((a)) at 101.56. Then market bounced building a corrective structure and ended wave ((b)) at 114.04. Oil has turned lower in wave ((c)) to complete a 3 swings structure to look for a double […]

Short term Elliott Wave view in Nasdaq suggests the decline to 11068.5 ended wave (3). Wave (4) corrective rally ended at 12261.78 with internal subdivision as a zigzag Elliott Wave structure. Up from wave (3), wave A ended at 11678.25 and pullback in wave B ended at 11320.50. Final leg higher wave C ended at […]

GCC (Wisdom Tree Commodity Strategy Fund) is a great indicator for commodities direction. This Fund is positively correlated with Oil. Previously, we have mentioned the idea that the Fund reached the blue box area back in 03.2020. Since then, it has started a rally which looks like a nest. A nest is a series of […]

The Fed’s aggressive rate hikes to fight inflation has caused deterioration in economic outlook. Atlanta Fed’s GDP gauge now sees the second quarter running at – 2.1%. With the first quarter’s decline of 1.6%, this makes it two quarters in a row with negative GDP. This fits with the technical definition of a recession. As […]