Short term Elliott Wave view in USDCAD shows that the decline from 12/31/2018 high (1.3669) is unfolding as a 5 waves impulse Elliott Wave structure. Down from 1.3669, Wave 1 ended at 1.3563, wave 2 ended at 1.3662, wave 3 ended at 1.3263, and wave 4 ended at 1.3323. We can see a momentum divergence […]

The major component stocks of XLF begin to report earnings for Q4 2018 the week of January 14th. This includes banking stocks such as C (reporting on 1/14/2019) and JPM (reporting on 1/15/2019). January 16th will see more banking  stocks such as WFC, BAC, GS, and USB report. This brief explores the near-term price structure […]

IYF Flat from the January 29, 2018 highs The iShares US Financials ETF, symbol IYF appears to be a flat correction lower from the January 29, 2018 highs. It has been persistent and strong enough to suggest it is correcting the bullish cycle up from the February 11, 2016 lows. At this point in time […]

Short term Elliott Wave view in SPX suggests that the decline to 2346.58 ended wave (3). The Index is currently correcting in wave (4) as a double three Elliott Wave structure. Up from 2346.58, wave W ended at 2520.27, wave X ended at 2443.96, and wave Y remains in progress towards 2619.58 – 2727.95 area […]