tomj2417

tomj2417

A bit of a messy chart and two very different counts that i can't make my mind up on. Perhaps because I'm British, I'm leaning towards the bullish count but with the history of the Pound these last few years that might be a really foolish option. I will be watching carefully what happens now as in my mind it will make up it's mind soon.

tomj2417 Updated 

With every man and his dog calling for oil to go higher (me included) perhaps now is a time for a bit of caution to be shown. The main thing from this chart is that oil is hitting the 50% fib retracement of a major 5 wave move down that started in 2013 and right now, I could make a count as the end of a C wave in a ABC correction. Interesting times indeed.....

tomj2417

A lot of negativity surrounding bonds these days but this count might suggest that US treasuries are due a rally or something more. This count suggests that they have finished a 5 wave down and perhaps have completed an even longer correction dating back to 2008. There is some decent divergence on the RSI to support the case and that is a pretty decent candle on...

tomj2417

The DAX may have recently resumed it's uptrend but this count would suggest, that while it may have further to run, there is a level not too far away where I, for one, will be looking out for any signs of a serious reversal.

tomj2417 Updated 

The present correction may or may not morph into something bigger but I still think that at some stage there is more upside for the Dollar index based on this count.

tomj2417 Updated 

From my analysis Drax PLC may have a little further to retrace for wave 2 but it may be about to embark on some serious upside. According to this Elliott Wave count it may have completed a correction that started in 2006 and may now be resuming its upwards trend. For the more pessimistic, my completed C wave may not be deep enough and might only be the end of its...

tomj2417

It's very difficult to make any predictions on a longer term chart on TradingView using Fibonacci as the software doesn't support log scale measurements. In their absence I have just used a parallel channel to suggest that if a wave 5 has started here we could expect further decent upside for this stock. As always with 4th waves I will be looking out for it to...

tomj2417

The Japanese Topix is certainly in an interesting place right now having just crossed two lines of major resistance. As ever with Elliott Wave there are lots more ways I could have placed a count in this chart but I am going with this one for now as my preferential count.

tomj2417

To me this recent Dollar strength is still a bit suspect and my main count still has the Dollar index making a lower low from here and a deeper wave 5 . However, recent strength can not be ignored and the Dollar is bouncing off a trend line that dates all the way back to 1985. I had been tracking this correction as a triangle but it seems to have broken out of...

tomj2417 Updated 

This is a high yielding UK investment trust investing in Europe that I think may have some decent upside potential with a confluence of bullish signals.

tomj2417

I've been watching this stick for a while now and it might finally be breaking out. For all the gloom in the media calling for a top in US markets there are certainly plenty of positives in many US stocks

tomj2417

Further to my last post on WTI, price really seems to be following the confines of this modified Schiff pitchfork very nicely indeed. Will it continue or is this post the kiss of death?

tomj2417

A pretty simplistic count of the China A50 but it sure is a bleak one, for the bulls anyway. If the index breaks down below the yearly pivot I might take this count more seriously as it has the potential to fall a long way. Some pretty obvious things to note are the double top and reversal on the Yearly R1 pivot.

tomj2417 Updated 

This count suggests that there may be more upside in oil. As oil has been running hand in hand with stocks recently it might also suggest that there could be more upside there too. That's good......if I'm right.

tomj2417 Updated 

I'm finding the same patterns in lots of US growth stocks which suggest to me that there may still be money to made in this bull market if these potential 5th waves do materialize.

tomj2417 Updated 

In this EW count it may be that the 4th wave correction might have not completed yet but, whatever the case, I reckon there may be a 5th wave move up for this stock sooner or later.

tomj2417 Updated 

HSBC broke through 2 long term trend lines today which might suggest some bullishness going forward. Also worth noting is history has shown that as goes HSBC the FTSE 100 usually follows. I have left any EW wave count off the chart as I am still undecided if this is all part of a long term correction dating from the top in 2001 or part of an impulsive climb that...

tomj2417

The SP500 has bounced very nicely off the 38.2 retracement of my wave 3 but the question that remains is whether it was enough of a correction to end wave 4 or does it need to correct deeper before resuming it's climb. Wave 2 was a shallow correction so perhaps a deeper correction for wave 4 with the idea of alternation? If you count wave 4 as an ABC zigzag then...