• 699 days Will The ECB Continue To Hike Rates?
  • 699 days Forbes: Aramco Remains Largest Company In The Middle East
  • 701 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,101 days Could Crypto Overtake Traditional Investment?
  • 1,105 days Americans Still Quitting Jobs At Record Pace
  • 1,107 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,110 days Is The Dollar Too Strong?
  • 1,111 days Big Tech Disappoints Investors on Earnings Calls
  • 1,112 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,113 days China Is Quietly Trying To Distance Itself From Russia
  • 1,114 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,118 days Crypto Investors Won Big In 2021
  • 1,118 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,119 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,121 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,121 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,125 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,125 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,126 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,128 days Are NFTs About To Take Over Gaming?
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: AUDUSD, VIX And NASDAQ

Originally posted at 8:30 am PST.

AUDUSD is turning down now, finally breaking out of an upward channel which suggest that corrective fourth wave can be finished at 0.7444 and that market is headed south for 0.7300 once again. For now invalidation level remains at 0.7511.

AUDUSD, 1H

AUD/USD 1-Hour Chart

Do you remember VIX index from a start of November, when we said that market may turn down after a three wave recovery into a trendline resistance? Well, price is now 50% lower while stocks are at new highs. But it's important to understand that this current cycle is slowly coming to an end. In other words, VIX could form a bottom in the next few months which means that stocks could turn down. And if we add the following NASDAQ chart with an ending diagonal, then we definitely should be aware of a limited upside and maybe even very strong turning point in 2017.

VIX, Daily

VIX Daily Chart

Nasdaq, Daily

NASDAQ Daily Chart

 


Interested in our services? Then visit our homepage at www.ew-forecast.com and take a glace at some of our charts. You can even subscribe to our Twitter account -> @ewforecast

 

Back to homepage

Leave a comment

Leave a comment