tomj2417

tomj2417

Known as something as a bellwether for US stocks this is an index that I keep an eye on. This idea posits 3 different courses, although 2 of them are almost identical, all of them bullish eventually. Personally, I prefer the red count that suggests that we are still in the b wave of an expanding flat that will fool a lot of people.

tomj2417

Another slightly obscure etf from the UK showing a bullish count for Japanese equities (hedged to GBP). The grey line is the price of GBPJPY showing that when equities rose the Pound rose with them. Time to go long both?

tomj2417

Palladium seems to be showing a classic ABC zig zag correction with A and C waves that seem to be carving out 5 wave patterns. The issues in these counts to me is whether in fact my wave iii actually completed in March 2019 as the March high is also the 2.618 extension of it's wave 1 or in fact the current bullish price action is still in fact wave iii.

tomj2417 Updated 

As always, there are alternative counts but this count will be negated for sure if the downtrend continues below 13.43. Whatever the faults of this count I can't help but feel that we may be witnessing some sort of protracted correction before things resume higher again.

tomj2417

Nickel has made some good progress this year and as a major nickel miner is Glencore about to benefit? Might be a bit early to call this a reversal but watching carefully.

tomj2417

Whichever way I look at this reckon it might be due a decent rally. Kiss of death really.....

tomj2417 Updated 

Taking this UK investment trust as a proxy for UK small caps this count suggests that it may be in the midst of a decent correction and may have further to fall before resuming it's upwards trajectory.

tomj2417

A more bullish count but still suggesting an almighty decline eventually. This one or the other one or another one.....ummm.....?

tomj2417

While this count expects a decent rally into 2020 it's longer term projection is for a pretty serious move to the downside.

tomj2417

I said in my previous posted chart that there seemed a lot of counts for the DAX right now. Well, here's another one. Still bullish.

tomj2417

There are so many alternatives to this count that it isn't funny but perhaps this in one of the possibilities for the DAX.

tomj2417

Title pretty much says it all. If the bullish price action continues this week then maybe I can give these counts a bit more credence. Some decent bullish divergence on the RSI to back it up. A more bearish alternative count would be to see the correction continue down to my median line on the pitchfork.

tomj2417

Calling a bottom in the Pound? Crazy perhaps, but you never know. Finding a count within the medium price action has not been easy for me but this might be a solution.

tomj2417

A possible count for base metals? Probably too early call it off one bullish weekly candle but I will be keeping a close eye on this chart. I have included 2 counts for the correction beginning January 2018 but I'm not particularly confident in either.....in the red count the C wave is too long and in the purple count the C wave is not clearly defined.

tomj2417

You never know. For me, EW is not about certainties as there are no certainties in the markets (except perhaps the downward direction of the Pound!) but is this a possibility going forward? Might be.

tomj2417

So here's the question...... Are we just observing a series of very bullish 1-2, 1-2's to be followed by a booming wave 3 or was the move up from 2009 a B wave as part of a deeper flat correction (expanded or running , could be either)? One thing is for sure, where we are now with that line of major resistance, certainly makes for a make or break situation in the...

tomj2417

Probably too early to have much confidence in this count, especially with that large red monthly bar, but is this count a possibility for the energy sector going forward?

tomj2417

Both of these counts call for a decent correction in the short to medium term. However the blue count calls for a deep and protracted correction while the red count suggests that there may still be another leg up. Does anyone know which one it is? (Apologies for my attempt at humour in the title.)