Holiday Notice
Hello again, from beautiful Austria! I am on vacation till 23 June. See you later.
Elliott Wave Analysis of AUD/USD (Australian Dollar)
The Elliott Wave analysis of AUD/USD published on 24th May in wavetimes suggested that any recovery to 0.8550 levels will find fresh sellers. The downside objective was below 0.7800. To our delight, the currency ran into a brick wall on 28 May exactly at 0.8551 and is already down by over 2%. If you managed [...]
Elliott Wave Analysis of BP (Energy Giant)
Just over 3 weeks back the Wall Street Journal reported in its Market Watch that analysts were saying BP’s tumble on oil spill was overdone. It quoted analysts’ target of 730 pence for the share from its current level of around 575 pence. Elliott Wave Analysis of BP however pointed to the opposite direction, and [...]
Elliott Wave Analysis of Shanghai Composite Index
When I saw a report in Bloomberg Businessweek that Elliott Wave International Inc was suggesting that the ‘correction’ in Chinese stocks may be nearing its end, I decided to look up that chart myself. We all know that wave analysis is not an exact science, and there are many different ways to approach the subject. [...]
Elliott Wave Analysis of SABIC (Saudi Arabia)
There are few other approaches to the financial markets that serve us better than Elliott Wave Analysis. As I have said so often, an extended 5th wave can make us rich. Take SABIC for example. Just as recently as 12th May I had warned of a sell off to 75. At that time the SABIC [...]
Elliott Wave Analysis of the Dollar Index – USD
Many market players watch the USD Index for various reasons. So here is a quick take on this from an Elliott Wave perspective. Enjoy.
Elliott Wave Analysis of DLF, India
I am bearish for DLF (a much followed Indian Stock) and expect it to reach at least 215. However, the better level to sell will be near 290.00 Take a look at the chart where I have given detailed elliott wave analysis of DLF. Clearly, there is a preferred level to sell and that is [...]
Elliott Wave Analysis of GBP/JPY Sterling Yen
The Sterling Yen cross, or GBP/JPY has been a bit difficult to trade for most people in recent weeks. Clearly the easy-money days are gone. Yet, one can hardly recommend a buy here. The sentiment is overwhelmingly negative and we don’t know how much exposure UK banks have to the smaller Spanish Banks. Using Elliott [...]
Elliott Wave update EUR/USD Euro
Wave analysis is as much a work of art as science! It is constantly a work in progress. Yet we can get some very useful clues by spending some time with the charts. Take the Euro for example. We are at sort of cross roads. Are we going to rally all the way to 1.3600, [...]
ELliott Wave Analysis of Crude Oil 24 May 2010
In just a matter of 9 days Crude Oil has moved over 15%. Now tell me if there is any finance manager who wishes to hedge his exposures would not be happy to have such intelligence! Elliott Wave Analysis is powerful if you know how to use it. A recovery to $73 is likley, and a [...]
Elliott Wave Analysis of AUD/USD Australian Dollar 24 May 2010
There are two interesting developments in a chart that makes me sit up and take notice. One is an extending fifth wave, The other is a failed fifth wave. The Australian Dollar or AUD/USD had posted a failed fifth wave last week and I had warned you to look for a sell off. Sure enough [...]
Elliott Wave Analysis of AUD/USD Australian Dollar
AUD has had a failed fifth wave
“Nothing shameful about weak Euro” – FT
The Financial Times editorial of Monday 17th May is emphatic: a weak Euro will boost the eurozone’s export competitiveness, and hence should be welcomed. If this wisdom becomes accepted widely, then there need be no fear of intervention, and the markets could sell on every corrective bounce until the technical targets below 1.1700 are reached.
A non-technical update on EUR/USD
I am going to quote some comments by Paul Krugman: 1. “I’m not encouraged by the remarks of some of the leaders, who keep talking about protecting the euro as if speculation against the currency were the problem. Actually, a weak euro helps Europe.” 2. “When countries have their own currencies, they can deal with [...]
Elliott Wave Analysis of Dow Jones Industrial Average
Here is the Elliott Wave Analysis of DJ Industrial Average that I presented to an audience of over 200 traders this morning. You will see that I am bearish in the slightly medium term for a dip to at least around the 9000 level and would recommend any recovery to get out of longs. If [...]