Tag Archives: wave

GBPUSD update

The Pound has finished a five wave move from 1.4235 to 1.6720. Hence, we will be looking for a correction that is bigger than either of the two corrections seen during the 5 wave upmove. All corrections tend to be … Continue reading

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S&P500 Update: May 19, 2009

One of the hardest decisions a trader makes is to take a punt against the current trend. It is seldom profitable immediately, and he worries how far away the market will go before his view becomes the accepted thinking. The … Continue reading

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Elliott Wave Analysis of some Indian stocks

Now that the Parliamentary elections are over in India, and a decisive mandate has been given to the Congress party and its allies to continue in power, most people expect the stock market to react positively. Let us take a … Continue reading

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S&P500 ready to dive?

On 5th May I presented you with this chart. The market more-or-less behaved as expected. In a more recent update I warned you to be patient until we get the first clue of a topping out is shown to us. … Continue reading

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S&P500 remains resilient

In recent updates I have called for the S&P500 index to remain well bid, warning we could see 937. That level is very close, and not far from another resistance at 943. I continue to remain positive in the very near term for the market Continue reading

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S&P500 continues its rally

The 886 level in S&P didn’t hold for long, and any shorts there should have been stopped just above that level. The market continues to remain strong, and there is a pretty good chance we will reach 937. See what … Continue reading

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Tata Steel in Wave 3?

For a while now we have been working under the paradigm that Indian stock markets have bottomed out, and we are in a new bull market. In the case of many stocks this translates into a third wave position at … Continue reading

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S&P 500 update: where is the top?

You will recall that in my last update of 23rd April, I had warned of another move higher. Once an extending fifth wave is completed, and we get a first sell-off, we should always be on the alert for a … Continue reading

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