tomj2417

tomj2417

Not much analysis here and in fact it's just a pitchfork which I lined up to suit myself.....but if the DOW can hold this breakout then it certainly is bullish! Merry Xmas to all.

tomj2417

The Pound seems to have been respecting Fibonacci levels all the way down. My question is, has it finished it's decline or does it have to respect the 2.61 Fib all the way down at 1.03?

tomj2417

I personally prefer the more bearish count here and think we could be approaching the end of wave 3 but in markets like these......who knows......and the more bullish count is just as possible.

tomj2417

JP Morgan broke out decisively from a 16 year consolidation. Although early days this could prove very bullish for the medium to long term in my opinion. I will be watching this chart with interest.

tomj2417 Updated 

I have much doubt over this count and although GOLD has bounced off both the 38.2% and 50% retracement of the move up I still think there is more downside here. The big question will be if this correction is just a wave 2 correction of a multi-wave move up or if my wave 1 was just in fact a rally on the way down (if that makes any sense!)

tomj2417 Updated 

Is the recent Dollar strength finally catching up with Sterling? Waiting and watching for a break....

tomj2417

Post Trump's election BRK has broken out to the upside but my Elliott wave count suggests that it may not have much further to go with some upside resistance provided by a combination of the 1.618 Fib extension, the parallel channel and a Andrews Pitchfork median line. It all suggests to me that the post election market euphoria may be short lived.

tomj2417 Updated 

The Andrews Pitchfork takes the 2002 low for A and the respective 2007 and 2009 high and low for B and C. The Elliot Wave markings are on the chart. This analysis seems to suggest that the DOW may run into some serious resistance any time soon.

tomj2417

Using this popular UK global investment trust as a proxy this count might suggest that global equity markets are due a decent correction now or in the very near future.

tomj2417 Updated 

The "flash crash" of a few days ago was just a wave 3 to me and the retracement that of the 4th wave. I believe we may be embarking on a 5th wave high that should take out the preceding lows. I have done the analysis with an inverted chart of the pair as that is easier to me.

tomj2417 Updated 

It's getting increasingly tricky to put money in stocks these days but this analysis might suggest that there is still some upside in this dividend favourite from the UK stock markets. I am less confident with the count on the weekly chart as wave 5 might have completed already but still believe there id upside in the short term at least.

tomj2417

Again, the Pound seems to be at a juncture this morning here in Asia, hugging a median line on my pitchfork and offering numerous conflicting counts (as usual). At some stage today it should show us which way it wants to go. I would lean towards the bearish move but the recent price action suggests to me that there is a possibility of further correction to the upside.

tomj2417 Updated 

The chart is hopefully self-explanatory but I am suggesting that the Pound is perhaps due a further wave 4 rally correction. As for targets for a bottom, I have suggested three areas to consider. Please see the chart for details.

tomj2417 Updated 

Here is a Elliott wave count that suggests that the sell off of 9th September may not be a time to BTFD. Details are on the chart.

tomj2417 Updated 

The Pound has taken a hammering against the SGD since September 2015 but seems to be correcting strongly in recent weeks. Is the impulsive move from 2015 over for now or is this just a rest before the decline in the Pound continues? My preferred count is on the chart in red and a more bearish (for the Pound) count is in blue. Of course, this could also me a...

tomj2417 Updated 

It may be a rare occurrence but an ending diagonal in wave 5 may be taking shape here in Natural Gas according to this analysis. If that is the case then we can expect some more upside before a major retracement to follow.

tomj2417

On this count at least it would suggest that there is more downside in store for USDJPY after perhaps a little more to the upside.. As with any Elliott wave count and especially for a correction, counts can change quickly so I would definitely be waiting for some downside price action before deciding that this pair has embarked on wave 3 of wave 5. If it doesn't...

tomj2417 Updated 

My analysis shows a possible upcoming bounce for the Pound against the Japanese Yen. My Elliot wave count is shown on the chart and the parallel lines on the chart are the 0.25, 0.5 and 0.75 lines from an Andrews Pitchfork taking the 2007 high as A and the 2011 and 2015 low and high respectively as the B and C.