tomj2417

tomj2417

I have no idea how long or deep this correction will go (although the shallow correction in wave 1 might suggest a deeper correction here in wave 4) but I'm still bullish eventually. The hard part is working out when the correction ends. On a shorter term note reckon that might be the end of the A wave.

tomj2417

This is a bullish count for the Dollar that follows on from a previous post on the Dollar index from a few days days ago when I called for a reversal/correction. Imo that correction may now have finished. If that is the case the I expect the Dollar to resume it's climb upwards for some time yet.

tomj2417

If anyone can tell me which way this one is going to pan out I would be very grateful as these two counts are both totally opposed to one another. With Brexit swinging from positive to negative in the blink of an eye it's very difficult for me to make a call wither way. So many perfect Fibonacci hits as well for both arguments to confuse me even more. Personally,...

tomj2417

A pretty ominous chart and blue count here suggesting that UK mid caps could be in for a rough ride for some time to come. We do have an ETF in the UK to short them ,1MCS. I have also included a red count that gives the possibility that this is a complex 4th wave correction and the is a final 5th wave to come. This count would have to kick in pretty quick to be...

tomj2417

Since the demise of XIV I have followed this volatility etn more as an indicator than anything else. Sure enough it stopped dead on the 61.8 retracement of it's January decline in late September and has since declined sharply as volatility soared these last few days. To me it could now be shaping up as a near perfect zig zag correction. IF I am correct then I...

tomj2417 Updated 

My preferred count for the China is much more bearish than this optimistic count but I have to consider all possibilities. Like I have said on other posts things are getting a diverged in the equity markets with some seemingly due a correction where as others might be bottoming. If I am right about US market being due a decent correction soon it seems unlikely...

tomj2417

Just glancing at Ozzie bank charts this morning having read about ANZ bank having problems. Haven't given them that much of look but reckon they all look a bit bearish for some time yet.

tomj2417

I found this chart kind of fascinating as to how many times it has respected Elliott wave theory. Doesn't mean it's going to do what this bullish count says but interesting to me all the same. Tiny bit of divergence on the RSI too. If you take a look at the longer term chart you can see that since almost going bust in 2009 the share has been in a massive basing...

tomj2417

A couple of bullish counts here although one of them thinks that it may sink a bit lower yet before turning up again.

tomj2417

This count suggests that the US Dollar has either completed 5 waves up or will do soon on the hourly chart.

tomj2417 Updated 

After what might have been an extended wave 5 BT could expect a protracted fall to around the level of wave 4 of the climb up. The massive drop of 25/01/17 may be the start of an accelerated decline in a wave 3.

tomj2417

Here's a bullish count in blue suggesting that Japanese stocks may be the ones to keep the party going in the coming months. I have included a more bearish red count in case the 4th wave correction is not in fact over although price action looks very bullish.

tomj2417

A bit tenuous I know, what with everything pointing towards USD strength going forward.......but you never know.

tomj2417

This stock is breaking out of an 8 year base with a reasonably clear wave count......

tomj2417

Just a bit of fun but they sure have a few similarities comparing the Shanghai composite to the Nasdaq composite. The blue overlay is the Nasdaq composite index from 1990 to the present day. Could history repeat? No idea. But if it does, I won't miss the train.....

tomj2417

Please tell me if I'm wrong as I'm shaky on technical patterns but is that 2 cup and handle patterns for the SSMI? It's pretty obvious that it may well come up against some massive resistance sooner rather than later but if it can break that resistance......... Interesting times.

tomj2417

Here's a ratio chart of semiconductors versus the SP500 which suggests that we could still expect some decent upside from semiconductors and technology in general despite it's out performance over the last few years. It's too early for me with this one but I will be looking out for any decent moves upwards.

tomj2417

I published an idea on this stock back at the end of December 2017 and although I now think that count is wrong (surprise, surprise) it still worked out well. This is a revised count for that stock which shows a preferred count (blue) and alternative count( red) which are both bullish. It is perhaps too early to really tell if it has any value or not, except that...