tomj2417

tomj2417 Updated 

To me at least, the US dollar seems to have turned down in a 5 wave move since the middle of August and the corrective rally ended dead on the 50 per cent fib retracement of that decline before turning down again. This could mean we are going to see some weakness in the dollar in the coming weeks.

tomj2417 Updated 

Financials have certainly busted out these last few days and I have put up 2 EW counts that might suggest it could keep going over the coming days and weeks. The problem I have however is knowing whether the 2018 correction is actually over or not and it is just as possible that the correction takes another turn and continues down. If the red count turns out to...

tomj2417

I reckon that markets still have another run up in them although, just like US politics these days, things seem pretty polarized between those that are extremely bullish calling for a moonshot and those calling for an imminent crash of epic proportions. Makes tuning out the noise a bit difficult. for me at least.

tomj2417

Here's a bullish count for Thai stocks.

tomj2417 Updated 

The chart on the right is a correction in the Nikkei 225 back in 2013/14. I couldn't help notice the similarities with what is happening in the SP500 right now. My blue count for the SP500 suggests that there might be a final leg higher before any major correction while the red count has a called an end to the B wave already with C starting these last few days....

tomj2417 Updated 

Another frustrating chart in that I can't tell if it has finished a 4th wave correction in May and has now embarked on it's wave 5 or has this wave 4 correction got a few more ups and downs to go. In the spirit of EW alternation the 2nd wave correction in 2016 was a shallow one so perhaps a deeper wave 4 could be expected now. Doesn't always follow though and with...

tomj2417

A EW count suggesting more downside for the emerging markets.

tomj2417

European banks have taken a hammering since the beginning of the year but can I see 5 waves down there to bring the correction to a halt or at least give us a decent rally? Probably too early to say and I would need to see something more positive first but to me it certainly bears watching. Some decent divergence on the RSI as well. I have tried to show two...

tomj2417 Updated 

I initially thought that the corrections that began in 2018 in the US indices were going to shape into much bigger and longer corrections but the upward movement has been so relentless that I have to think now the correction finished back in March and at least in small caps we may have been engaged in a 5th wave since then. According to this count the Russell...

tomj2417

Is the Kospi about to embark on a 5th wave here or has this complex correction got some more twists and turns? It will be interesting to me what this index does at it's yearly pivot (2347) and I will be keeping an eye on this one for clues. At the moment it is too early to tell, for me at least, but I reckon I can see 5 waves down to possibly complete a c wave and...

tomj2417 Updated 

The Bovespa has bounced almost perfectly off the inside pitchfork mid line (amazing how many times indexes do that) and now could be forming a head and shoulders pattern. Might be worth watching.....

tomj2417 Updated 

Deep 4th wave correction? 5th wave still to come? Should know pretty soon. In fact, if it doesn't bounce at 95.20 I will know I'm wrong.

tomj2417 Updated 

Apples price action over the last few days has been pretty dramatic as much of the rest of the US market is beginning to struggle. However, this count would suggest it is on the final legs of a move up that began in 2016. I have no idea how high it could run and don't want to embarrass myself by calling a top, but I do reckon that longs still need to be cautious...

tomj2417

This count posits two possibilities for the Nasdaq. Either the wave finished with a truncated 5th and a decent correction has already started or (more likely imo) it has another leg to go up before starting any serious correction. I forgot the third option....... that I am totally wrong on all counts.

tomj2417

I'm really struggling to make head or tail of this one at the moment although this count reckons there still may be some decent upside in the Dollar index. Whether this is an impulsive climb or a corrective ABC I really don't know at this stage but the Dollar keeps climbing in a series of a 5 waves as far as I can tell. In this count I am suggesting that it may...

tomj2417 Updated 

This count suggests that oil might have a another leg up before it reveals what it's long term plans are.....

tomj2417 Updated 

This somewhat obscure chart (I'm British u see) suggests that US equities may be due a fairly decent correction sometime about now if this EW count holds any truth. As ever, when calling tops in the market, the opportunity to look really stupid presents itself.....so i am not holding my breath that I am correct with this call. As ever, time will reveal all.

tomj2417

There seems to be so much divergence at the moment between different indexes/countries/markets that, for me at least, it is really difficult to try and work out what is going on. According to this count I am expecting a decent 5th wave to take this etf higher but at the same time I am seeing a correction due in the US indices. Confused. I am. Thank goodness the...