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INTRADAY WAVE ANALYSIS SYMANTEC (SYMC)

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Elliott Wave Analysis Symantec (SYMC)

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SHORT AUD/USD 5-3-5 ZIG ZAG COMPLETE WAVE 3 SET TO UNFOLD

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GBP/USD

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Current price structure points to further upside for an oversold athn after breaking major downside resistance trendline coupled with an impulsive 5 wave move to the upside.

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A PICTURE IS WORTH A THOUSAND WORDS

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CURRENT MARKET STRUCTURE SHOWS CORRECTIVE SIGNS AS WAVE 4 OF THE CURRENT IMPULSE WAVE TO THE DOWNSIDE HAS FORMED A TRIANGLE WHICH WAS CONFIRMED BY THE .382 RETRACEMENT OF WAVE 3 AND MULTIPLE CORRECTIVE 3 WAVE MARKET STRUCTURES. THE MACD HAS MOVED ABOVE THE ZERO LINE WHILE PRICE AS MOVED IN A SIDEWAYS MANNER FURTHER STRENGTHENING MY CONVICTION OF FURTHER DECLINES...

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PARALLEL CHANNEL RESISTANCE BULLISH ENGULFING OVERSOLD STOCHASTIC .50 FIB RETRACEMENT

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APPLE COMPLETED A 5 WAVE IMPULSE KNOWN UNDER THE WAVE PARADIGM AS A LEADING DIAGONAL WHICH WAS RETRACED ONLY .382 PERCENT BY A SIMPLE ABC CORRECTION. THE MOST COMMON FIBONACCI RETRACEMENT IS BETWEEN .50 AND .618 WHICH WAS NOT REACHED. IN EITHER CASE PRICES COULD RUN BACK DOWN TO AROUND 65 TO FORM A 3-3-5 EXPANDED FLAT. THE OVERALL PICTURE IS STILL BULLISH

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THE CURRENT ANALYSIS UNDER THE WAVE PARADIGM POINTS TO CONTINUED CONSTRICTING PRICE ACTION BEWTWEEN 1100 AND 1300 PER OZ. THE MOST COMMON CORRECTIVE PATTERN IN 4TH WAVE POSITIONS IS A TRIANGLE WHICH APPEARS TO BE UNFOLDING BEFORE OUR VERY EYES. FIBONACCI ANALYSIS FURTHER INDICATES THE PROBABILITY OF A TRIANGLE GIVEN PRICE PULL BACK AFTER HITTING THE .382...

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USDJPY BAT RSI DIVERGENCE

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USDJPY IS SHOWING WEAKNESS BEFORE THE JOBS NUMBER COMES OUT TODAY. IT TRENDED SLIGHTLY LOWER THROUGHOUT LONDON TRADING FORMING A WEDGE WHICH IT BROKE OUT OF IN NEW YORK TRADING. UNDER THE WAVE PARADIGM WE HAVE TWO POSSIBILITIES REGARDING FUTURE PRICE ACTION. THE FIRST IS A ENDING DIAGONAL (3-3-3-3-3) THE SECOND IS A FLAT (3-3-5)

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USDJPY HAS COME UNDER PRESSURE AFTER TESTING THE PARALLEL CHANNEL AND 1.00 FIB EXTENSION OF PREVIOUS SWING HIGH. UNDER THE ELLIOTT WAVE PARADIGM THE CURRENT STRUCTURE STANDS AS A ZIG-ZAG YET THE OVERALL PICTURE IN THE EURO IS VERY BEARISH SO ITS IS MOST LIKELY THIS IS GOING TO BE SUB WAVE 2 WITHIN AN EXTENDED III WAVE, THUS BEING THE CASE THE NEXT MOVE HIGHER WITH...

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SHORT USDJPY SHOWING STRONG DOWNWARD PRICE ACTION AFTER BREAK OUT FROM WEDGE. HARMONIC BAT CORRECTION FOLLOWED. MORE DECLINES TO COME SHOWING MOST COMMON WAVE 4 TRIANGLE

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GIVEN THE CURRENT PRICE STRUCTURES INHERENT IN THE MARKET AND THE OVERALL BEARISH SENTIMENT IT APPEARS THE MARKET HAS CONFIRMED A REVERSAL. UNDER THE ELLIOTT WAVE PARADIGM THE CURRENT BREAKOUT POST RATE CUT HAS PRODUCED A 3-3-5 FLAT.

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A PICTURE IS WORTH A THOUSAND WORDS

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AFTER THE 400 PIP SELL OFF DUE TO THE ECB'S PRESUMPTION TO CONTINUE ITS EFFORTS TO AVOID DEFLATIONARY PRESSURES AND REDUCE THE CAPITAL INFLOWS FROM EURO COUNTRIES SURROUNDING THE UKRAINE CRISES ITS APPEARS THAT DOWNWARD PRESSURE ON THE EURO IS BEGINNING TO WIND DOWN. THE FIRST CORRECTIVE STRUCTURE WAS A EXPANDING TRIANGLE WHICH THEN BROKE INTO A WEDGE THEN TO FORM...

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3-3-5 FLAT UNFOLDING WAVE 4 COMPLETE IMPENDING WAVE 5 STOP AT 1.3612 TARGET 1.3650