tomj2417

tomj2417 Updated 

The Pound hasn't been alone in taking a hammering against the Yen these last few weeks but I reckon this latest spot could be quite pivotal as to what happens next. Will it hold the lines of the pitchfork and bounce or keep plunging lower? I'm not sure.....if anyone knows please let me know....

tomj2417

The question for me here is has the 4th wave correction finished at the 61.8 fib retracement (same question for most global equities) or if this correction has further to go. Whatever the outcome of that question I still think that this index might have another leg higher.

tomj2417 Updated 

Assuming (and with my counts it's only a distant possibility) this EW count has any correctness the biggest question is whether the 2018 correction has finished or if there is more downside to come. It has retraced to the 23.6 fib as opposed to the deep correction in wave 2 so in the EW theory of alternation, you never know. Personally, I going for more upside but...

tomj2417

I put out a idea on this UK stock back in January, 2017 suggesting shorting it at 302 and since then it went a lot lower. Recently it has been showing some signs of life to the upside and I am now suggesting this as a possible bullish count. The major problem I have with this count is that b wave in the correction is very short indeed.

tomj2417

This count suggests that the correction in the Nikkei could be either over or ending soon after one more leg lower. All the different types are pitchforks are kind of interesting (to me at least) but I included this original pitchfork as it shows some possible upside targets, assuming this count has any merit.

tomj2417

I certainly wouldn't be jumping on board at this stage but I am considering this count for what might happen next. I'm not really seeing a clear 5 waves for a final C wave to end the correction but the FTSE is just starting to show a bit of divergence on the RSI and if it can hold around here you never know....

tomj2417

Yet again (markets really are at a critical juncture imo) I can see two possible counts for this index/etf. The red count would suggest a much deeper and longer correction before continuing upwards while the blue count suggests that the rally from June, 2016 was in fact a wave 1 up. Something the blue count does have going for it is that the larger wave 2...

tomj2417

Apologies for it being such a messy chart but imo this index does split kind of nicely into these two counts. As usual, one is bullish (after a further correction) whereas the other is somewhat cataclysmic to the downside. I wish I knew which one it was.....

tomj2417 Updated 

Whatever the merits or faults of the count I have attached to this Netflix chart, I have little doubt that many US tech stocks are near or at the end of a very good run. The similarities between all asset charts that have experienced parabolic rises is uncanny. This is a totally bearish count and calling tops usually ends in tears so it will probably be wrong....

tomj2417 Updated 

It's all so clear leading up to the January 2018 high but that correction (as ever with EWT) doesn't half spread some confusion (for me anyway). Did the correction finish at the 38.2 fib in February or did it finish in March with a truncated 5th for a C wave in a zigzag. Or has the B wave of a protracted wave 4 just completed these last few weeks? I have no idea...

tomj2417

Two counts here: My preferred count in red showing a top has been made and to expect some sustained downside. The alternative blue count suggests the opposite and that another leg is in the offing as soon as this correction is completed.

tomj2417

Are we seeing a marked rollover in US equities finally catching up with everyone else or is BTD going to save the day again? This count would suggest that we have seen a 5 wave move to the upside and we should expect some sustained downside action moving forward. Of course, there may well be some decent rallies in the meantime.

tomj2417

Unfortunately TradingView hasn't worked out yet how to allow us Elliott Wave enthusiasts to use logarithmic measurements for extensions and retracements making long term charts a real challenge. Apparently, using the fib channel tool is a workaround and I have used the fib channels to show the long term retracement targets. This count is suggesting that while...

tomj2417

Reckon there may still be some upside for this stock despite the doom and gloom. Seems to be tracing out a 5 wave pattern to the upside although it may be in the later stages.

tomj2417

As opposed to count 1 this count suggests that we may only be seeing a wave (iv) correction here and can expect another run up into wave (v). Again,, plenty of fib retracements and extensions aligning.

tomj2417

This count suggests a much bigger correction and even a change of trend. Lots of fib retracements and extensions aligning.

tomj2417

A pretty fanciful count for the Dollar index as the projected C wave is so much longer than the A wave. But I've seen them before and I liked how the Fib numbers seemed to align with one another. The other projected stopping point would be the R1 yearly pivot which is also the 78.6 fib retracement of the move down. Of course, on the flip side what we could be...

tomj2417

Not putting that much faith in this count as it's difficult to ignore all the doom and gloom surrounding emerging markets at the moment (or is that bullish?) but with the yearly pivot in play and a bounce dead on the 70.7 fib retracement you never know.....