IUSA trade ideas
SP500 (GBP) - most bullish count everThings have been so crazy lately that I even think this chart might have a grain o f something in it. I am suggesting that we have just seen wave 4 of wave 3 play out of which waves 1 and 3 were equal. According to Elliott Wave that can suggest that we may see an extended wave 5. As this chart is the GBP version of this index it could also suggest a number of things: Total collapse of the Pound Sterling and/or total collapse of the US Dollar and/or off the scale inflation pushing stock markets up like a rocket (à la Venezuela) . Final option: When I start posting totally bullish counts like this one it is often time to go short.....
US equities - bullish main count, bearish alternativeStill looking for clues as to what's going to happen next and as usual coming up with multiple possibilities. I like this blue count but have to consider the red count too....
SP500 - 2 countsSame EFT, a UK listed etf for the SP500 priced in GBP. The chart on the left is in log scale and the one on the right is arithmetic. One bullish while the other channel suggesting a top is already in place. Annoying really. However, looking at other charts in various markets it would suggest to me that it may still have further to run.
