waverity

waverity

The TNote (US 10 year yield) has entered its target area for this up movement from the bottom. Resistance area is between 4.65% to 5%. We are expecting a pullback below 4% for the next months. Then the uptrend should resume towards 7%, possibly higher. A break above 5% would invalidate this view.

waverity

Tesla (TSLA) seems to be in a bullish situation with a reversed head & shoulders pattern targeting the all time high near $415. The Elliott wave count also seems bullish towards at least $325 with possible extension towards $415.

waverity

Euro Stoxx futures are looking highly toppish, trading near important resistance levels, Elliott Waves targets and showing bearish momentum, There is a possible huge downside scenario that would imply a more than 80% correction on the index, towards the 831 level. A breakout above the recent highs, near 4513, would invalidate this view.

waverity

Tesla (TSLA) has reached its resistance of the lines linking the tops and has reached its overbought area on RSI(5) on a weekly basis. We are expecting a pullback, as long the resistance near 300 is holding, towards at least 241, 218 or max 140.

waverity

The S&P500 has reached its rebound B wave target area near 4400. We are now expecting a drop towards the line linking the lows since 2008, near the 3100/3000 area. RSI-14 is also at resistance. A break above 4620 would invalidate this bearish view.

waverity

GDXJ, on the break above $52, would validate a bullish reversed Head & Shoulders pattern with a target in the $86 area.

waverity

The ratio of SLV / KRE is looking bullish, having broken its downtrend line with lots of potential.

waverity

The ratio of KWEB/QQQ seems to have completed its bearish pattern and ready to rise. Support around 0.06, targets/resistances at 0.14 then 0.21.

waverity

THe US 10Y treasury yields seem to have reach an important exhaustion point to complete its A wave. Expecting a pullback towards at least 3.40% if not 2.83%. Then another up-wave should follow that could reach the 7% eventually.

waverity

The various scenarios that I see for next few months on the S&P500 all look to the upside. Sentiment has recently been among the most bearish ever (which is bullish) and so has been investors positioning. Seasonality is highly bullish and so is the presidential cycle (October to April of the 2nd year). Lots of elements are in place to fuel a continuation to the...

waverity

VIX seems to be in a C wave with potential towards the 43 level, implying more downside for equities here.

waverity

The exit from the 50 years wedge looks highly bullish with target between 9% to 12%. Short term is overbought so a pullback is probable but the longer term trend seems higher.

waverity

A break above $125 would validate the bullish reversed Head & Shoulders with a target in the $217 area.

waverity

The QQQ is on support of the line linking the lows. Oversold and 5 waves completed for (1) of C, would be due for a rebound for wave (2) of C. A break below the line linking the lows would probably mean extensions and further downside.

waverity

TD bank has formed a bearish Head & Shoulder pattern, a break below the neck line would trigger the pattern for a C down wave towards the target.

waverity

Costco has reached its upper channel and is in a parabolic move. Seems due for at least a pulback towards the bottom of its rising channel.

waverity

The Nasdaq100 (QQQ) seems to have completed its B wave and looking downward for a C wave towards its 200 week moving average near 257. The inflation and rising rates environment is not good for tech stocks in general, the chart seems to suggest that this not an exception.

waverity

Many market analysts are saying that the crypto world is holding on the precious metal word. If you look at the ratio of Bitcoin/Silver, it seems due for another leg down that could bring the ratio back to the 500 area (ex: $20 000 Bitcoin/$40 Silver or $40 000/$80 ?). I like Bitcoin and cryptos in general but I believe that the time has arrived for silver (and...