In our previous chart of the day updates posted on December 1 and December 2 , we were expecting the Index to rally and find buyers in the dips. Index pulled back in wave (b) as per preferred Elliott wave view and we think it’s over at 6665. Near-term focus is on 6780 – 6807 […]

In yesterday’s post we said FTSE dip was corrective and should find buyers soon for the next leg higher. Index rallied as expected and we think wave X low is in place at 6636. Rally from 6636 low is taking the form of an Elliott wave impulse which we have labelled as wave (a). Once […]

Index has been trending higher since forming a secondary low at 6448 i.e. wave (X). It has tested 0.618 – 0.764 ext area of (W)-(X) and has completed wave W of ( Y) at 6773. Wave “X” pull back is in progress as a 7 swing Elliott wave structure. Levels of interest on the downside are […]

DAX Index is showing 5 swings up from ((X)) low at 8904 (10.30.2014)  which is an incomplete sequence so we expect the Index to do a pull back in 6th swing & make another push higher to complete 7 swings to end a 7 swing cycle from 8904 low. Wave ( W) ended at 9469 […]

The preferred Elliott Wave view is that the move up from 8915 low is taking the form of triple corrective structure when wave Y ended @ 10050 and 2nd wave X is also thought to be  in place @ 9749.  As this level holds, we like more upside in the Index toward 10155 – 10216 region. […]

Index has almost reached the equal legs up from 5.16.2014 marked as red wave X on the chart.  Break of rising 1 hour trend line or a similar break in RSI trend line would add more conviction to the view that cycle is over and a pull back lower in wave ( X ) has […]