tomj2417

tomj2417

If this chart of the Taiwan stock market has any merits then it would suggest that there is still room for equities to climb the present wall of worry.....The more immediate question is whether or not the present correction was enough before resuming the climb. I think so...but I'm often wrong.....

tomj2417

I posted a bullish count for the Hang Seng a little while back but looking at the speed of this correction makes me consider more bearish possibilities. Here is one of them that suggests that the run up from December 2016 to January 2018 was in fact an extended 5th wave which now requires the necessary correction which is taking the shape of a double zigzag. If it...

tomj2417 Updated 

Here I go again.....about to make a fool of myself trying to call a bottom in this currency pair. Not much sign of a reversal yet so probably way to early but there is plenty of fib confluence and some divergence on the RSI. But hey,,,this is what this website is for.....just putting a few ideas out there.

tomj2417

The correction that began in May and finished in October of last year is tricky and I have no idea if my count is even close to being correct but whichever way I look at this I end up bullish. To me, it's just a question of how deep the present correction will take before this index resumes it's path to the upside. (The only negative scenario I can find is the...

tomj2417 Updated 

I like the way that this commodity seems to love both the 38.2 and 61.8 fib retracements whichever way you look at it. The big question for me is if copper has turned up now and completed a wave 2 at the 61.8 level or in fact it has one more down turn to go. Interesting times.....

tomj2417

A count that suggests that either the KOSPI has completed 5 waves up or may have one more leg to go before a decent correction. For me, the longer term direction is still bullish.

tomj2417

Chart suggests some further weakness for GBP before continuing strength. An alternative view/count (not shown here) would be that the correction from August last year was some sort of ABC and now the Euro is resuming it's uptrend. Worth watching for Brits like me.

tomj2417 Updated 

Personally, I'm with the red count here and reckon that this index (and equities generally) are due a decent correction in this uptrend. As always, there are alternatives so I have included a blue count which a little more bullish. Of course, picking tops, even interim ones, has been a fools errand in this current market so a third option is that it just keeps...

tomj2417

Another obscure UK listed investment trust I keep an eye on. Has the correction run it's course? Time for a 5th wave as suggested on the chart? Nice divergence on the RSI.....

tomj2417 Updated 

Not much to go on here except a bullish candle on the 61.8 fib retracement but might be worth keeping an eye on......

tomj2417

Still reckon there is room to run for US stocks.....

tomj2417

And another one.....still bullish with a couple of potential targets. Unless I'm being a tad euphoric and signalling a top.

tomj2417 Updated 

The median line of this Schiff pitchfork has proved strong resistance for this index twice since 2009 has lead to healthy declines each time it's been hit. 3rd time lucky to break out or not.......?

tomj2417

The problem, as I see it, with Elliott Wave is that is can throw up almost any scenario that you want....bullish or bearish, depending on whatever bias has a root at that moment. Just looking at that 5 day candle made me think that perhaps, and that is a big perhaps, there might be an strong alternative to the bullish counts for gold. Anyway, here's my bearish...

tomj2417 Updated 

Another UK property investment trust that has had a very good run since 2009 and which I think still has further to climb, although my 5th wave target might be a bit optimistic. My feeling is that a 4th wave correction my not be over yet and may have much further to run but that eventually this will resolve to the upside. Taking a slightly more pessimistic target...

tomj2417 Updated 

Here I go again. Looking for a top. A couple of targets for my suggested wave 5 , the 1.618 extension of wave 1 or the 0.618 extension of waves 1 to 3 (which also coincides with the 1.618 extension of wave 1). If I am correct on the count here then my wave 3 is also the same as wave 1. I've chucked in a parallel channel for good measure too. Now lets watch it...

tomj2417

I started looking at this chart to see where I thought this thing would start a decent correction and ended up with this super bullish count. I do have a more bearish scenario that suggests that the price action from January 2018 is a much longer 4th wave correction as part of an expanding flat or some kind of flat correction and we can still expect a C wave down....

tomj2417 Updated 

Sometimes I will look at the long term chart and as pessimistic as I can be come up with a count like this. Far fetched...yes. Impossible.....no. Some lovely Fibonacci measurements on this long term chart. I appreciate that TradingView finally added the log measurements a little while back to make this type of "analysis" possible.