Elliottwaveforecasts
TRU - BearishTRU has completed a Wave 5 of 5 bullish move. Recent price action was not able to take out the highs and earning was a surprise to the downside. I expect a return to the start of Wave 4 which is approximately 77.50. Target 75-77.50 from current levels once it completes the gap left between 90-91.
SPY/ ES: Where are we and where are we headed?Based on a Fibonacci projection of waves 1 & 2 coupled with bullish MFI divergence a reasonable assumption can be made we have already bottomed in a third wave (see horizontal white line that ends w/ an arrow) or are probably pretty close. Once the fourth wave up is complete we will have more knowledge to apply in terms of predicting where 5 will terminate but based on probabilities if 4 retraces 50% of 3 then the spot marked w/ 4 in my wave count represents the expected target and again, based on probabilities if 5 is equal to 1 in magnitude then a bottom may be in the region shown at the bottom right shaded bar (corresponds w/ 5). Please ask any questions you have.
USDCAD: Key Resistance at 1.4700. Watch For Sell.Hi traders,
Price has reached a critical sell zone @ 1.4700 and is making a case for a WXY regular flat. What is also interesting to note is that we're testing the high from 18 January 2016.
Be sure to manage risk and stick to your strategy when looking for any short positions.
Regards
Wave Theorist