Decline to 17732.04 completed wave X and the Index has since moved higher. From wave X low, the rally took the form of a zigzag a-b-c, where wave a ended at 17973.07, wave b ended at 17910.15, and wave c of (w) completed at 18205.23. Wave (x) pullback is currently in progress towards an ideal target of 17843.94 – […]

Preferred Elliott Wave Nikkei short term view suggests wave ((X)) pullback took the form of a double three (W)-(X)-(Y) structure. Wave (W) ended at 19665. Wave (X) took the form of a FLAT (3-3-5 structure) and completed at 19820. In our last Chart of the Day update, we said wave Y of ((X)) can still make one more low and […]

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) […]