waverity

waverity

Wave II should be near completion, looking for a huge upside with the wave III of (3)...as long as $6.50.

waverity

Bitcoin (BTC) has appreciated more than 120% in the last few weeks while reaching a market cap above $100 billions. It seems to have completed a five waves from its bottom of a few years ago and from its recent low of $3000. It has also reached the top of its rising wedge while showing divergence on momentum indicators. I believe that as long as it stays below...

waverity

Bitcoin seems toppish, sentiment is extreme, medias are all over it, price is parabolic. It looks like at least short term top and that this market is due for a pullback to the $1500-$2000 area over the next 6 months to a year. I would use tight stop if long.

waverity

C=A + 1 = 5 + top of channels = TOP ?

waverity

Amazon is completing a toppish ascending wedge on declining volume and momentum. The stock has completed a 5 impulsive Elliot waves count and reached some important long term Fibonacci targets. Minimum downside potential to the 23.6% retracement near the trendline linking the lows since 2014, around $600. A break below $755 would increase our confidence for more...

waverity

The whole Defense industry is extremely overbought in all time frames, even in monthly. Stocks are reaching important long term Fibo projections. NOC is making no exception, showing RSI bearish divergence and declining volume in parabolic rise. % waves completed, has reached the top of its risisng channel. Excellent risk/reward on the short side, target near...

waverity

The whole Defense industry is extremely overbought in all time frames, even in monthly. Stocks are reaching important long term Fibo projections. NOC is making no exception, showing RSI bearish divergence and declining volume in parabolic rise. Excellent risk/reward on the short side, target near $167, even $135 possibly.

waverity

MCD is at its Elliott Waves monthly time frame target in the $132 area. 5 waves completed RSI14 is showing bearish divergence. MCD is testing the upper band of its rising channel. $132 area is corresponding to the 1.5x the height of its previous channel projected on its breakout point in 2008. Minimum target in the $101 area, then possibly $82.

waverity

The XLU has recentlly reached it's high of early 2015 near $50 which seems to offer strong resistance. A double top seems to be in process. Elliott waves count of 5 waves is completed, a correction seems to have started towards the $46.70/$45.35 area, The wave III should just have started, a fast drop is expected. RSI (5) and MACD are showing beairhs divergence...

waverity

USDCAD reached key support near 1.29. A rise from here is expected for a wave 5 that would eventually could bring the pair to the 1.60 area. A break above 1.3650 would give credit to this scenario while a break below 1.290 would weaken it significantly if not completely. This corresponds with crude oil that reached important resistance in the $40 area and should...

waverity

A 5 waves impulsive up movement seems to have been completed on the raito of XOP/XLE. A pullback is expected soon. A break above 0.49 would invalidate this view.

waverity

Toppish wedge pattern, near long term trend resistance. Key support at $34.20, broken opens min $31.75. Standard taget between $29.65 and $28.20.

waverity

Crude oil seems to have completed a wave (2) or (b), possible impulsive wave (3) or (c) coming as long as $26.74 holds. Target min at $35, max $39.

waverity

EWC is oversold and at key support. Excepting a rebound.

waverity

Crude is reaching important Fibonacci projections, at important graphical support. USDCAD near key resistance around 1.4250 while copper is at important monthly support on trendline linking the lows near $1.95/$2.00. The whole commodity complex seems due for at least an important rebound, at least the risk/reward is starting to be interesting.

waverity

Mastercard seems to have completed a 5 waves rise since 2006. Therefore we are expecting a 3 waves process correction over the next few months or years starting with a wave A with a target around $79. *Disclosure: I am short MA at the moment of this publication. This is only an idea and shouldn't be taken as an investment advice.

waverity

US dollar index remains bullish as long as 96.70 holds. Target at the top of the channel near 108/110.

waverity

Alphabet is approaching its Elliott wave 5 target of $815. The stock is highly overbought, far away from its 52-week moving average and showing bearish divergence on its 21-week RSI. Expecting a pullback over the following months towards $630 at minimum, max $520. A weekly break above $850 would invalidate this view.