AndyM

AndyM

S&P continues its way up after completing wave 5.1 and 5.2, has just started wave 5.3. The subdivisions are shown on the chart, with two good entry points for buyers. The game will end at around 2270, so still some room for long entries to play with.

AndyM

USDCAD is completing its B wave of what could be a zigzag correction. Significant downward movement is ahead. C wave of the B wave is an impulse with the 5th wave likely subdividing into an ending diagonal.

AndyM

S&P is developing a zigzag correction after completing wave 1 within wave 5 of the main bullish trend. The corrective A wave is over, B wave is over, and C wave is completing its subwave 2. At the end of wave C we are going to land just above 2000, and chances are high enough to rebound into waves 3-4-5 of the main bullish wave 5. This is likely to take us from...

AndyM

Oil strongly resists to go down despite ongoing physical oil oversupply. Many would think that 63 resistance will not be broken and it's safe to short at this level. The market will fool you on that. From EW structure we see that the main A-B-C zigzag is not yet completed and what could be taken for a beginning of a downward impulse during Feb 18-22 was in fact...

AndyM

It's not a trading idea, more of a a history lesson :-) Today while browsing the web I stumbled upon a well known story how Soros and his friends heavily shorted the Pound in 1992 and forced the government into surrender, pocketing more than a billion USD of gains. For the British Pound, this can largely be viewed as a black swan event - however, if we look at...

AndyM

In the past 3 months Gold has been so hesitant to choose the direction, it just kept drawing zigzags - they are all over the place. Single, double, and even triple. The last movement from 1307 top to 1201 today was no exception. This is a double zigzag with a contracting triangle acting as B wave. I believe: 1) that the movement to 1200 is over because we have...

AndyM

This is my favorite airline stock: with the current P/E of 58 it is a ridiculously overpriced asset, but if the market is still willing to buy it, so be it. Taking a look at Elliott impulse subdivisions - the main wave 4 is done or half-done, and wave 5 is still ahead. So we are not yet done with growth although the fundamentals suggest it's time to stop. I don't...

AndyM

Here's a quick view of the current wave count of EURUSD. A few notes regarding the chart: 1) one last movement down is still needed to complete wave of the main movement since 2011. We did not observe any divergence on daily MACD when we reached new lows in Jan 2015, which makes me think this was a local wave 3 within , so we need to make another move down...

AndyM

In this chart I want to share my view on the next EURUSD movements based on Elliott waves. The statements I would like to advocate: 1) We have almost completed the impulse wave from 1.3994 to 1.1098 are are now set for a flat correction for a few months. 2) The descent is _not_ finished and we will continue moving down for another ~2900 pips till end 2015. The...

AndyM

We are now completing wave 4 of the motive wave that started its development back in June 2014. Wave 4 is likely to touch the top of the wave 4 of one lower degree and then we will proceed to the final wave 5 development. It looks like oil price tends to make most of the movement in wave 1&3 leaving little to wave 5. Therefore I assume that the current development...

AndyM

This is my view on what the future of Brent will look like. Short term - I do believe we cannot go under 50$/barrel. Shale will collapse and the price will be brought up very quickly. Long term - there is a strong bullish trend and we are just about to begin wave 3. Wave 1: Demand grows, supply grows. Wave 3: Demand grows, supply stagnates. Wave 5: Demand slows...