The major stock indexes started 2014 with losses of 5-7%. Many analysts say this is just a reaction to emerging markets’ weakness and that the U.S. economy is getting stronger. Don’t panic, in other words. But is this truly the case? Robert Prechter, president of Elliott Wave International, has released a new free report that […]
When the financial media mentions the late 1920s, they usually mean the 1929 stock market top. But today’s investors can also learn from what happened in 1928. That was the year that the bond market topped, while commodities peaked even sooner. You can see this for yourself in a chart published in the September 2013 […]
EWI’s president Bob Prechter has been warning about the safety of the U.S. banking system for a while. Enjoy this excerpt from a new article by Terry Burnham, a former Harvard economics professor, author of “Mean Genes” and “Mean Markets and Lizard Brains”, who spoke at last year’s Socionomics Summit in Atlanta. Mr. Burnham’s article […]
Today’s Support and Resistance levels: R3: 1.6613 R2: 1.6547 R1: 1.6501 Current Spot: 1.6466 S1: 1.6426 S2: 1.6408 S3: 1.6395 Technical summary: With the break below support at 1.6469 (the top of wave i), we have been forced to adopt the alternate triangle count as our preferred count. It shows a major X-wave triangle, which […]
Today’s Support and Resistance levels: R3: 137.93 R2: 137.65 R1: 137.18 Current Spot: 136.82 S1: 136.09 S2: 135.36 S3: 134.77 Technical summary: As expected, we saw a correction from the 136.22 low. The expected correction could have terminated slightly before our second target at 137.65 (the top came in at 137.54). We are now ready […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading downward, just like we expected, corrective wave (c) (coloured red) of the bigger wave [x] (coloured green) has been developing. In the 1-hour chart of the USD/CAD pair, we can observe that price has stayed below the 1.1123 level all time and while […]
USD/CAD Elliott Wave Last week, the USD/CAD pair found the top at the 1.1220 level. From there on, this commodity pair has been trading lower, just as we expected. In the 1-hour chart of the USD/CAD pair, we can observe that we are tracking descending movements from 1.1220 towards 1.070 as potential A-B-C pattern inside […]
AUD/USD Elliott Wave The AUD/USD pair has been trading downward for more than a year, we are approaching some critical areas for long term trading at the moment and that’s why we want to look for some long term trade in this pair today. In the 1-week chart, we can see that from the high […]
Today’s Support and Resistance levels: R3: 1.6723 R2: 1.6702 R1: 1.6683 Current Spot: 1.6638 S1: 1.6600 S2: 1.6577 S3: 1.6512 Technical summary: After reviewing our count, we have moved wave iii higher to 1.6787. The reason is that the sub-wave four of iii was a running triangle and then we saw the wave five of […]
Today’s Support and Resistance levels: R3: 138.09 R2: 137.65 R1: 137.10 Current Spot: 136.72 S1: 136.18 S2: 135.81 S3: 135.33 Technical summary: With the break below the base channel support line we have seen the expected acceleration lower. Blue wave (iii) has extended slightly further than we first expected and has reached a low of […]
Today’s Support and Resistance levels: R3: 1.6748 R2: 1.6713 R1: 1.6670 Current spot: 1.6623 S1: 1.6560 S2: 1.6493 S3: 1.6419 Technical summary: Black wave iii ended slightly earlier than expected 1.6792 (the high of wave iii came in at 1.6748). We are now in black wave iv, which ideally will meet support at 1.6560 for […]
Today’s Support and Resistance levels: R3: 139.23 R2: 138.66 R1: 138.24 Current spot: 137.89 S1: 137.39 S2: 136.97 S3: 136.67 Technical summary: We have finally seen a break below the base channel support line, which heralds acceleration lower. In the short term we will be looking for minor resistance at 138.32 to protect the upside […]
USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading upwards, corrective wave .c (coloured black) of the wave [y] (coloured green) has been developing. According to our last forecast, we expected this commodity currency to break below the lower trend line before opening the short position, but if the price breaks […]
AUD/USD Elliott Wave The AUD/USD pair continued moving downwards yesterday, so our primary count is still valid and we are still going with an idea that wave .c (coloured black) of the bigger wave iii (coloured blue) is developing at the moment. In the 1-hour chart, we can see that the AUD/USD pair has missed […]
Today’s Support and Resistance levels: R3: 1.6792 R2: 1.6763 R1: 1.6677 Current Spot: 1.6625 S1: 1.6609 S2: 1.6592 S3: 1.6561 Technical summary: The expected correction from 1.6725 became slightly deeper than expected, but we are now looking for support at 1.6592 to protect the downside for a break above minor resistance at 1.6677, which confirms […]
Today’s Support and Resistance levels: R3: 140.27 R2: 139.94 R1: 139.37 Current spot: 138.96 S1: 138.65 S2: 138.18 S2: 137.39 Technical summary: We are looking for the ongoing wave blue wave iii to start accelerating towards the downside soon. The ideal target for blue wave iii is at 136.15. In the short-term, we expect minor […]
If Inspector Gadget or Maxwell Smart had lived in the digital age, their bosses would have used the smartphone app Snapchat to deliver their secret missions. Snapchat is a popular app with about 8 million users that lets your smartphone send a photo that self-destructs seconds after your recipient views it. As of September 2013, […]
USD/CAD Elliott Wave For the last few sessions, the USD/CAD pair has started to go lower, corrective wave [x] (coloured green) or wave [i] (coloured green) has started developing. In the USD/CAD 1-hour chart we can observe a descending movement from the 1.1198 level, possible end of the [y] wave (coloured green), and we are […]
AUD/USD Elliott Wave Since our last forecast, the AUD/USD pair has been trading upwards, we are still tracking wave iii (coloured blue) of the bigger wave (v) (colorued red) as the best possible structure, but we are going to discuss an alternate count since we are close to our invalidation levels today. In the AUD/USD […]
Today’s Support and Resistance levels: R3: 1.6792 R2: 1.6763 R1: 1.6722 Current Spot: 1.6705 S1: 1.6660 S2: 1.6622 S3: 1.6592 Technical summary: After an unexpected minor detour towards 1.6425 before we finally saw the expected red wave v rally higher towards 1.6792. Short term we expect a minor correction towards 1.6660 before the final rally […]
Today’s Support and Resistance Levels: R3: 140.40 R2: 140.15 R1: 139.94 Current Spot: 139.72 S1: 139.39 S2: 139.04 S3: 138.43 Technical summary: As we expected the extended blue wave ii correction had ended and blue wave iii lower towards 136.15 is developing. Blue wave ii ended at 141.26 and following decline is clearly impulsive in […]
Today’s Support and Resistance levels: R3: 1.6632 R2: 1.6568 R1: 1.6524 Current spot: 1.6504 S1: 1.6452 S2: 1.6434 S3: 1.6385 Technical summary: It finally looks as red wave iv has ended slightly below our ideal target at 1.6463 (the low has been at 1.6452). In the short term we will be looking for a break […]
AUD/USD Elliott Wave For the last few days, the AUD/USD pair has bee trading upwards in a corrective pattern, wave .b (coloured black) of the bigger wave (iii) (coloured blue) has been developing. Yesterday, this upward move just extend toward the new high at 0.8825 that we are currently calling the end of the .b […]
USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has extend upward movements, just like we expected, corrective wave (c) (coloured red) of the bigger wave [y] (coloured green) has been developing. In the 1-hour chart we can see that we are tracking ascending movements from the 1.0588 towards the 1.1175 level as the corrective wave [y] […]
Today’s Support and Resistance levels: R3: 142.42 R2: 141.80 R1: 141.36 Current spot: 141.16 S1: 140.77 S2: 140.29 S3: 139.79 Technical summary: The correction from 139.15 has extended as it has turned into a triple zig-zag correction, but we should be very close to the end of the correction. We expect the correction (blue wave […]
The global market outlook is far less rosy than the so-called experts would have you believe. Global stocks have set record highs, yet sentiment readings have hit off-the-charts extremes. Gold, silver and bonds are in multi-year bear markets. Investors in major markets around the world are exposing their money to unprecedented (and mostly unknown) risks. […]
USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has continued trading upwards, just like we expected, impulsive wave v (coloured blue) of the bigger wave (c) (coloured red) has been developing. In the 1-Hour chart of the USD/CAD pair we can see that move from the 1.1030 is showing a three sub-waves a-b-c, and that […]
AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has been trading upwards, corrective wave .b (coloured black) of the bigger wave (iii) (coloured blue) has been developing. In the 1-Hour chart we can see that the AUD/USD pair is pushing higher from 0.8656 in the corrective pattern, and while price stays below 0.8886 we can […]
Today’s Support and Resistance levels: R3: 1.6643 R2: 1.6599 R1: 1.6558 Current spot: 1.6491 S1: 1.6492 S2: 1.6463 S3: 1.6410 Technical summary: We have seen the expected decline towards support at 1.6492 to finish the flat correction, which has developed the last couple of days. Once this flat correction is finished, we should expect a […]
Today’s Support and Resistance levels: R3: 141.43 R2: 141.03 R1: 140.70 Current Spot: 140.44 S1: 140.12 S2: 139.68 S3: 139.15 Technical summary: As expected the resistance in the 140.50 – 140.78 (the high has been 140.70) protected the upside, but we still need a break below support at 139.68 to confirm that a top is […]
