tomj2417

tomj2417

This Elliott Wave count suggests that oil's rally may be due a rest and a period of weakness may now take place. From an EW point of view it has some alternation in it's 2nd and 4th wave corrections between deep and shallow. The 3rd wave ended exactly to the 1.61 fib extension and the 5th wave completed on the .61 fib extension of waves 1 to 3. It also completed...

tomj2417

This Elliott Wave count is suggesting that a count of an impulsive move up that began all the way back in 2018 may be about to enter it's final leg in a 5th wave. I posted bullish ideas for this stock back in March and February and so far it is following the script. The bigger question here is confirming when and if the wave 4 has finished and my projected wave 5...

tomj2417

Some nice confluence in this Elliott Wave count with wave 3 topping perfectly at the 2.61 fib extension and the smaller sub waves being pretty easy to spot. This suggests to me that we might see another wave up to complete 5 waves although the small nature of the wave 1 correction might suggest a deeper wave 4 correction.

tomj2417

Reading lots of negative stuff about property generally but this chart pattern could be interpreted as bullish.

tomj2417

AI seems to be a hot topic at the moment so I couldn't resist trying to come up with a few EW counts for this stock. It has rallied well since October last year but the big question for me is whether or not the correction is over and a 5th wave has started or if the correction has much deeper to run, hence the blue count and the red count.

tomj2417 Updated 

Is this a possible route for the US small cap index to follow? It certainly ticks a few boxes regarding some fib retracements and extensions and has bounced solidly on my pitchfork midline.

tomj2417

I seem to swing between bearish and bullish counts at the moment for most US equities but perhaps we are reaching a point where we will find out which way the wind is going to blow. Is this a possible route for Apple?

tomj2417

I had thought that the US dollar might rally a bit harder than it has but this counts allows for the possibility that we might see another leg lower for the currency.

tomj2417

2 bullish counts for the DOW, just differing in how they interpret the present correction. Is it over already or does it have much deeper to run?

tomj2417

2 counts for the Nifty 50 index. The index seems to me to have moved up in a 5 wave pattern since June 2022. The question is, was that the 5th wave as suggested by the red count or was it just wave 1 of a much greater 5th wave that is only just beginning?

tomj2417

2 counts for this US listed company that only differ slightly and both suggest that a much deeper correction lies ahead for this company at some stage.

tomj2417

You never know....is this a possible outlook for Apple and tech in general?

tomj2417

This count suggests that the Ozzie might be about to suffer some weakness against the USD going forward. As a risk on/risk off indicator, and if this count is right, it might also suggest that we are going to see some weakness in equities going forward.

tomj2417

One correction is measured with an arithmetic scale the other with a log scale. One suggests that the correction may be coming to a finish, the other that the correction may have much deeper to run as the more traditional EW states that the correction may end at the 4th wave of preceding degree. Both counts however suggest that the trend is still bullish.

tomj2417

Although this count suggests there may still be some significant downside ahead the longer term outlook for this stock (and tech in general) may in fact be bullish according to this count.

tomj2417

So much bad news coming out of China could suggest that perhaps this index might be due a bit of a rally or even a turn if the "buy when there's blood in the streets" maxim has any value.

tomj2417

This count suggests we may be in the final leg of a bear market rally if the 5th wave of this c wave takes shape as I imagine it might. As my waves 1 and 2 were equal I am suggesting that the 5th wave might extend. The Fed is due tonight so I expect this count to be proved right or wrong sooner rather than later.

tomj2417

I would need some more confirmation that the downward trend is over but this EW count certainly suggests that a 4th wave flat correction might have finished with a 5 wave wave C wave and Gold could be about to shine....