No reason to get excited - the correction is ongoing and seems to be aiming much higher -> 1.3120?

Elliott wave outlook

Nevermind the details inside the corrective count - the move from 1.3084 downwards looks really powerful

Elliott wave outlook

Yes, I also feel the extension on your 1H chart is a possibility, especially since the retracement went to 61.8% of the 5w down since yesterday. Just a comment on your count in wave Y - "Wave 3 always divides into an impulse." (EWP p86) - i see you ...

Elliott wave outlook

EU: I think we're in maybe wave (iv) of 5. The retracement happening now will provide some clarity. But two concerns: a) the slight overlap of waves 1 and 4 (OK so its an impulse in a correction... but not very comforting for our count) and b) ...

Elliott wave outlook

Hi Motley, Tim's count is valid. The chart is 1H timeframe so the subwaves are not visible. If you look at a 5min TF you will see that, for example, wave 1 (down from the red X) has 5 waves internally. We often post summary charts for the sake of ...

Elliott wave outlook

Nothing changed from yesterday - so the hope for additional easing is back: risk-on: pile into the stock market, USD down, short covering for the expected rally... same-same as before - unless a stock sell-off happens. Very clever really - I ...

Elliott wave outlook

Bernanke is talking to the House right now... expect some swings as the USD whipsaws for the next while...

Elliott wave outlook

exactly how i see it unfolding

Elliott wave outlook

1650 seems to be a target with most analysts... I have a weekly pivot at ~1625 ( which PA has not yet touched ) and weekly R1 at 1650. Also, an RSI or MACD divergence will surely develop if price goes up there. I've opened a small short position at ...

Elliott wave outlook

Hi Olu, I've just started using direct links to external cloud storage (via BBcode - thanks CG!) and I've fixed the problem. Thanks for saying v

Elliott wave outlook

to calculate targets use Fibonacci relationships of waves (EWP p133) and Fib pivot points edit: updated chart with missing wave 3 - I don't believe wave 5 will stop at 1.29 and HHs won't be achieved in the timeframe shown image

Elliott wave outlook

No recent chart to show, but I have a 1.29 low at least

Elliott wave outlook

Good idea and clear, informative blog entries - I added your site RSS to my Google Reader

Elliott wave outlook

good action on EU and EJ, hey? ...and now the stock indices are turning down with a vengeance ... strong USD... might be a lot more downside in the coming weeks

Elliott wave outlook

Re: links in the signature - I googled this and it seems it's a "commercial users"-only thing. Check with Olu - i see he's got a link in his signature - and so did Luis until recently actually...

Elliott wave outlook

The SA40 index seems to be correlated (in fact slightly ahead in terms of downtrend) to the global stock indices. Not labeled on the chart below I can count 4 clear waves from the mid-Feb top. Wave 5 is in progress and a downside target with Fib ...

South Africa 40 index

Hi Bittereinder, welcome. I am using IG Markets at the moment. They're okay but I have some issues with slippage, stop-hunting and wide spreads with regards to the SA40 index specifically. Other than that their international products are good (CFDs ...

South Africa 40 index

Thanks for the updates Luis!

Elliott wave outlook

Thanks for the article Scott, food for thought there and some eventualities I hadn't thought of... the theme of inflation again...

Elliott wave outlook

Yes, Luis, your count confirms what I expect to see. The move down from your label III is definitely corrective in structure. Now I'm trying to imagine a future where the Euro is stronger than it is today... and at the same time as a strengthening ...

Elliott wave outlook