Sep 052015

Elliott Wave analysis works in all freely traded markets. The last time I offered you my Elliott Wave analysis of Egypt’s equity index, EGX30, it was back in August 2012. You can access that blog post by looking at the menu at the top of WaveTimes, under ‘Equities, Index, Africa, Egypt’.
You will see how we identified that the Egyptian index was likely to make significant gains. At that time, the index was trading at 5049. A lot of water has since flown down the Nile, but the Egyptian stock market almost doubled. I am sure a lot of investors made handsome profits in individual stocks.
However, the inevitable Elliott Wave correction set in once the five wave cycle was completed. If you had read my book Elliott Wave book “Five Waves to Financial Freedom’ you will be able to spot how so many of the observations there has played out in the Egyptian Stock Index or EGX30 index.

In the following Elliott Wave charts, I demonstrate some of the salient points. Remember that this blog exists as a resource for the student of Elliott Waves. Whether you are a professional trader, a casual investor or a serious student of Elliott Waves, the examples available here will fascinate you and help you better understand the nature of financial markets and how you could anticipate the market turns. So without any further ado, present you the charts of the Egyptian Stock market index and how Elliott Wave analysis was so powerful in its play.

Egypt's stock index traced an extended third wave

Egypt’s stock index traced an extended third wave

Observe how sub wave 5 inside the 3rd wave was equal to sub wave 1

Observe how sub wave 5 inside the 3rd wave was equal to sub wave 1

wave 4 was shallow and came between 23.6% and 38.2% of wave 3

wave 4 was shallow and came between 23.6% and 38.2% of wave 3

wave 5 was equal to wave 1

wave 5 was equal to wave 1

Once the 5 wave move ended, a huge correction started

Once the 5 wave move ended, a huge correction started

Now that you have seen how Elliott Waves work, go back to FWTFF and try and see if you could figure out the likely ending point of the on going correction. Good luck.

Jul 102015

I have been seeing several queries on the blog asking if the move to 7700 (as discussed on CNBC) is still coming, now that we have rallied up in 5 waves. So let’s try and clear up the air a bit.

The real goal of any analysis is to make money. Some people, however, want to keep proving to themselves that Elliott Waves work ( or doesn’t work). Their goal is to keep producing accurate wave counts and are happy if they get it right. Some are delighted if they can spot an occasion where someone else has got it really wrong :)

Remember an important point folks. NO ONE CAN TELL THE FUTURE. What we are trying to do here, with Elliott Waves, is to provide ourselves with a framework to base our trades upon. Knowing we are going to recover from around the time I gave the interview is sufficient value to make money in itself. Knowing that 8420 was a key level is additional money in the bag. (I don’t read others’ analysis, but you probably know how many others anticipated 8420 as a key level).

So what about the expectation for 7700? Is that coming? The answer is something like the following. Elliott Wave analysis is about the only approach that allows you to adjust your market expectation as you get new clues. It is a dynamic approach. You cannot draw a few lines and expect the market to follow your command. Instead, you listen to it and make changes to what you should do next.

Members of my Exclusive Club did not receive any trade ideas on the Nifty during this period. Why is that? We should know which battles to take part and which one to side step. But we did make over 13% during the rally to 8420 in one stock. Actually it moved 20%, but as conservative traders, we were content with taking 13%.

Don’t forget that I also discussed Tata Motors in that interview!

NIfty 10Jul15

Jun 242015

The following interview was aired by CNBC TV18 on 11 June 2015. At that time, the Nifty index of India was trading well below the 8000 level. Watch it and see the power of Elliott Wave analysis.
Today, the index tested a high of 8421. Will it go down to 7700? That depends on a fresh analysis of the index, but anyone who sold at 8420 levels would have already made enough money intraday to celebrate as the index plunged to 8339 in under two hours.

(The interview’s link appears in the prior post as well. Hence I removed the link here)

Nifty dives from 8421

Nifty dives from 8421

Jun 112015

Hello folks,

CNBC India reached out to discuss the outlook for Nifty, Tata Motors, ICICI and SBI. Here is the link for that:

Trading is all about listening to the clues that the market sends us, and taking appropriate action. A few weeks ago, when I was in NYC, I had mentioned that we will likely get a bounce from 8080 or 100 points below that. We did get a recovery, but the personality of that recovery clearly indicated that it was not the real thing. The next level where I might get interested in discussed in the video you see in the link. Good luck.

Apr 232015

‘Mng folks,

Tomorrow Friday 24 Apil, 2015, at 2 pm India Time, I will be taking questions from the public at website. See you there!

Please click on the Moneycontrol link above for the transcript!

Meanwhile, the link for the CNBC interview appears in the previous post.

Best wishes

Apr 162015

Hi Folks,

I am in India on a brief holiday. Tomorrow, Friday April 17, 2015, at 10 am IST, I will be appearing live on CNBC TV18 to answer questions about the Indian markets. I understand that the program will also be available on line for a few days, should you miss watching it in real time. (Here is the link: )

In a few days from now, I will be back in Mumbai for 2 days to participate in the ATMA Conclave. There will be a one-hour presentation on the first day where I will try and clear up some of the misconceptions about Elliott Waves. On day 2, there will be a round-table discussion about Elliott Waves as well.

Lastly, I wonder if you are aware that my second book is available at Amazon. Many of you might get some clues about the current market levels as some of the charts in it are just a few days old!

With best wishes


Apr 072015

I am going to be in Mumbai on the 1st and 2nd of May, 2015 to participate in the prestigious ATMA India Conclave. There are several other well-known technical analysts and market specialists sharing their unique perspectives with the audience. You too can join us there on those days.

The topic for my presentation is “Elliott Waves – The Myth and Reality
Look forward to seeing some of you there!

Apr 032015

The greatest gift of life is friendship, and I have received it from readers of this blog. When I wrote my first book, Five Waves to Financial Freedom, I merely wanted to leave my mark in the literature concerning Elliott Waves. But the enthusiasm with which you all received that book was beyond my wildest dreams. You made me realize that I had friends everywhere; complete strangers were writing me their thanks and how the book changed their lives. I can’t say how touched I am with your affection.Thank you, one and all.

There were many calls for a second book; some suggested I can bring out frequent booklets. But for me the goal was never the money that the book will bring. If I were to write again, it had to cater to a different set of people, while at the same time proving to be a useful refresher to my old friends from the first book. When my second child also graduated from college, I looked back and wondered if I could have done something better with my skills. I realized that one could have used Elliott Waves just as effectively in building a retirement nest egg, or for funding the kids’ college education. From that thought sprang the second book that is now available at

Dividend Growth Investing has long been considered a passive but positive way of achieving one’s financial security. I have explained in this book how you could make it a more interesting and rewarding pursuit, using Elliott Waves. I hope you will like the simple writing style and numerous real life examples. Whether you are young or old, there is no time like now to get started on investing for dividend income. And DGIEW will make a difference in the lives of anyone who chooses to embrace the ideas developed in it. As always, I value your feedback, and if you are active in the social media, please let all your friends know of this book. Along with me, you will also be contributing to their well being.

Thank you once again for your friendship.

Mar 202015

Elliott Wave analysis of USDYEN or JPY has not figured on WaveTmes for a long time. In fact, I haven’t published any currency analysis for a while. That is not to say I haven’t been looking at it. Treasurers of large corporations and hedge fund managers have been in regular touch. I present you with a bunch of charts on USDYEN which you can use as part of your learning. This blog exists to help you get better at interpreting the waves, and also as a living book, a valuable resource that compliments my Elliott Wave Book, Five Waves to Financial Freedom. I suggest that you open each Elliott Wave chart on a new tab! Enjoy.