Short term Elliott Wave view suggests rally to 11883.6 completed wave (Y). Decline from here is taking the form of a double three or WXY structure when wave W ended at 11301, wave X ended at 11684.3, and wave Y lower is in progress. Wave ((w)) of Y ended at 11259.1, wave ((x)) of Y bounce is currently in progress and could retrace 50 […]

Preferred Elliott wave view suggests a cycle from (x) low has ended and a pull back in wave “b” is in progress. 2091 – 2086 is the ideal area to complete this pull back and then we expect the rally to resume. Green arrow indicates the trend is up and also the line going toward “b” […]

We have seen a good reaction higher from the lows supporting the view that dip on Friday completed an Elliott wave FLAT correction. Preferred view now calls for a pull back in wave “b” to hold above 2072 low & continuation higher. We don’t like selling the Index in proposed wave “b” pull back and as […]

Preferred Elliott Wave view suggests rally to 19770 completed wave (W) and wave (X) pull back is also proposed to be over at 18973 with a test of equal legs (100% Fibonacci extension). As per Chart of the day presented yesterday (4.6.2015), we were looking for higher prices toward 19888 – 20032 area to complete a (w)-(x)-(y) […]

Preferred Elliott Wave view suggests rally to 19770 completed wave (W) and wave (X) pull back is also proposed to be over at 18980 with a test of equal legs (100% Fibonacci extension). Move up from here is taking the form of a double three or (w)-(x)-(y) structure when wave (w) ended at 19590, wave (x) ended […]