tomj2417

tomj2417

Possible count for this AIM listed UK stock....

tomj2417

Not sure at all what is going on in any longer term time frame.....the beginning of a longer term downtrend for the USD or just a corrective move before the uptrend resumes.....but in the shorter term is this a viable possibility for the Dollar?

tomj2417

Another investment trust that has been in the news in the UK as the manager was holding way too many Wirecard shares. To me though it presents an interesting chart from a Elliott Wave perspective. Has wave 5 begun already? Or has wave 4 just finished the first leg of a deeper correction and ongoing correction? However, whichever way I look at it, it suggests to...

tomj2417

Some nice fib confluence and a potential C wave that is shaping up nicely into a 5 wave pattern? A bit more strength for the US dollar before continued weakness?

tomj2417

I might be being a bit over-optimistic here as always you can find a count that fits a more bearish direction if you look for it. I like this one however for now but I am still curious if, when and where we are going to see a decent wave 2 correction/pullback before it continues higher. Since the "crash" in February, it, along with many other indexes has been...

tomj2417

Here's a bullish count for the DOW although this count reckons we could be in the middle of an ABC zig zag right now suggesting a deeper correction before resumption of the uptrend.

tomj2417

This is a popular UK based investment trust that, like the name suggests, invests in tech stocks. It has done pretty well for those holding it over the last few years. Perhaps my wave 5 is way too short but is there is a little bit of confluence for a top of sorts here? The 2.618 fib extension might provided some resistance and there is some decent divergence on...

tomj2417

Every time I think these markets might be about to take a breather they spark into life again and continue on their merry way. However, does this VIX chart count at least suggest that we might see a bit of (short-term) volatility. Does that look like a 5 wave impulse followed by a 3 wave correction? Or are there just too many permutations in this chart to make any...

tomj2417

I have included both a red and a blue count because I have no idea if this is an impulsive move to the upside or still part of a greater corrective. What I have found interesting of the recent period is that China stocks are sort of dancing to the beat of their own drum. The MSCI index priced in GBP is just breaking out of a 2 and a half year...

tomj2417

I had initially been going with the blue count for this etf following on from my chart idea on this from October 2019. I now think there may be in fact another wave of to go and I like the red count for this one.

tomj2417

I'm not sure if my red count wave 1 can really be labelled as a leading diagonal or not but it is the only way that I can justify the bullish count for JP Morgan. Personally, it looks more like a 3 wave ABC to me and so I prefer my bearish blue count and taking the view that this is a downward ABC correction. Which is the right answer? I wish I knew.

tomj2417

I look at one equity index and see a bearish scenario while another one can look very bullish indeed. Really not sure which way this thing is going to head right now but this is one of those charts that can perhaps be viewed in a bullish light.....More upside after correction.

tomj2417 Updated 

So many permutations for the US dollar longer term that I am only concentrating on the shorter term charts for now. This looks to me like a reasonably clear 5 wave pattern forming to the downside. Lets see if it pans out.

tomj2417

It might look a bit foolish to bet against US tech with the action of the last 11 (even 20+) years but both these counts reckon there might be room for a decent correction (blue count) and for a much larger and prolonged correction (red count) . (There is another variation for the red count that suggests the correction that began in 2018 finished a running flat in...

tomj2417

Is this a possible route for the Pound versus the US Dollar? And if it is correct does that mean that equities may also have another leg up too......?

tomj2417

As always, there is risk in the markets and these two scenarios, whilst both bullish, offer differing paths. The equity markets really took off on Friday......was that a 3rd wave in progress or a massive fake out (on dodgy employment figures). I wish I knew the answer.

tomj2417

Seeing a similar pattern in most European equities. Getting close to a correction or is calling a (interim) top a fools errand and the bullish red count the way to go?

tomj2417

US markets have rallied dramatically since the February "crash" but is it time for a pause? This pitchfork mid-line has provided strong support and resistance for this index. Will the index smash through it or take some time to consolidate?