tomj2417

tomj2417

Taking this UK investment trust as a proxy for global equity gives me 2 possibilities. Either my optimistic blue count and a continuation of the good times after a correction or the much more bearish red count which suggests that we are in for a much, much larger correction. If anyone knows the answer please let me know.

tomj2417

Looks to me that this stock might be due a decent correction before continuing it's climb.

tomj2417 Updated 

Wow. It's having a really great run.....but...... is it possible that it is reaching an end of a 5th wave? This count would suggest so and it does look like a pretty clear 5 wave impulse since the April low. Whether it will just be another correction or a major top I have no idea but I will expect some decent downside sooner rather than later.

tomj2417 Updated 

I've been calling a top on this FTSE100 investment trust for a while now without any success. This analysis is a total change of course as I am now suggesting that we might only now be entering a 5th wave and there may still be still substantial upside to be had here. The recent correction does look a bit small but with the way markets have been maybe that is the...

tomj2417 Updated 

Reckon Twitter might have another leg up before any serious correction.

tomj2417 Updated 

I'm not sure if this is in minor or intermediate wave 4 but either way I will be looking for the correction to finish so I can get long this ETF for another wave up......perhaps. I am expecting a reasonably shallow correction around either the 23.6 or 32.8 Fib retracement. Sometimes the Fibonacci numbers cause more confusion than clarity as different extensions...

tomj2417 Updated 

This certainly is a very bullish count on Disney which seems to be working it's way through a 4th wave triangle at the moment. Has the triangle completed? Not sure at all....but it sure looks to me that this stock (and perhaps the US markets in general) still have plenty of upside left in them at some stage.

tomj2417

I reckon there is still some more upside for this (and many other US stocks) but it sure looks like we are approaching a top of some sort some time soon.

tomj2417

Had been expecting a much greater correction here after the Dollar index's 2018 rally but it seems to want to going higher which has forced a rethink and some possible alternatives. Is this bullish count possible? All will be revealed in due course.

tomj2417

Really not sure about this count at all with all the talking heads going on about rising yields and interest rates and the general gloom surrounding bonds but with commercials very long and speculators very short on the COT index you never know in the markets. If I am right I often call the bottom to early so I wouldn't be surprised to see another leg down before...

tomj2417

My preferred count for oil has it topping out on the 3rd July with it now embarking on a prolonged leg down. But if it should turn around here heading north again or make a new high then I might have to start taking this alternative count more seriously.

tomj2417

The US dollar has had a great rally these last few weeks but has been showing some weakness lately. This count suggests there could be some decent downside before the dollar is due another rally.

tomj2417

Here's another US stock where there is a possibility of a 5th wave about to get going in my opinion. I have included a bearish alternative count (in red) that would suggest the polar opposite. As ever, the markets always allow to different outcomes.

tomj2417

I'm seeing a lot of US equities with very similar patterns to this one at the moment that might suggest they may be due another another decent run up. However, If they don't push on from here then it would also suggest that a major top could well be in and we can expect the present correction to deepen much further. I for one still can't decide whether to jump...

tomj2417

Of course, the problem with any Elliott Wave count is there is always another count suggesting the total opposite. However, this bullish count suggests the Pound might have another leg up to complete a corrective rally that began back in October 2016. However, should the Pound break down below the 143 level it would tell me that the correction is already over and...

tomj2417 Updated 

Can I count 5 waves down for GOLD? Possibly and I attempt to show that here on the chart. There are a few extra things on the chart, particularly the fib extensions and retracements, that add some weight to the idea that we might be about to see some upside for the yellow metal. However, it could also be argued that the move up since the bottom on the 21st May is...

tomj2417

Some will argue that Oil bottomed in 2016 and the C wave was completed there and then and we have now embarked another bull run. This count however suggests that there is in fact another leg down to be completed. As ever, time will tell.

tomj2417 Updated 

I thought this UK dividend payer might have bottomed around the 400 mark earlier in the year but I was wrong. However, a possible completed 5 wave EW count, the recent bounce on the fib 78.6 and some bullish RSI divergence has me a bit more positive that we might see some decent upside here.