SPX has broken below Oct 30 low (2603.54), i.e. Primary wave ((W)), opening further downside with incomplete bearish sequence from Sept 21 high (2940.91). Near term Elliott Wave view suggests the decline to 2603.54 on Oct 30 low ended Primary wave ((W)). Bounce to 2815.6 ended Primary wave ((X)) as a zigzag Elliott Wave structure. Up […]

Exxon Mobil (ticker: XOM) has broken below Nov 23 low ($74.7) and opens further downside in the stock with incomplete sequence from Sept 25 high ($87.36). Short Term Elliott Wave view suggests bounce to $81.97 on 12/5 high ended Minor wave X. Decline from there is unfolding as a double three Elliott Wave structure where […]

In this blog, I want to share some short-term Elliott Wave charts of Facebook which we presented to our members in the past. Below, you see the 1-hour updated chart presented to our clients on the 12/02/18. Showing that Facebook ended the cycle from 09/27/18 peak in red wave III at 11/20/18 low (128.45). As Facebook ended the cycle […]

The market celebrated the trade war truce between U.S. and China after the successful meeting last week between President Trump and Xi. Unfortunately, it only lasted for about 24 hours as news came in with the arrest of Huawei top executive Meng Wanzhou in Canada. Meng faces an extradition to the U.S. on the allegation that […]

Since the 2008 Financial Crisis, Goldman Sachs (NYSE: GS) established a new multi-year bullish trend which managed to break above 2007 peak after just 10 years joining the list of many other stocks which already achieved new all time highs in the previous years. GS has been moving within a bullish channel making higher highs […]

GDX Cycles from the January 2016 Lows Firstly, the GDX ETF was created in 2006. From there it bounced higher into the September 2011 highs. This not shown on the chart however the price trend was obviously up. The pullback lower into the January 2016 lows corrected the cycle from the all time highs. The […]