• 14 hours Holiday Spending Already Soaring Amid Pandemic
  • 2 days Another Stock Market Crash Could be Looming
  • 3 days Trump Loses Another Leg Of The WeChat Battle
  • 4 days DOW Plunges Amid WInter COVID-19 Surge Fears
  • 4 days Big Profits Are No Longer The Top Priority For Oil Investors
  • 5 days Banksy’s Littered ‘Monet’ Sells for $10M
  • 7 days Three Renewable Energy IPOs To Watch
  • 8 days Bitcoin Nears $13,000 As PayPal Joins The Crypto Fray
  • 9 days DOJ Declares The Obvious: Google Is A “Monopoly”
  • 11 days Alibaba Is About To Make History Again
  • 12 days Robinhood Users Are Latest Target Of Pandemic Hackers
  • 14 days The Hydrogen Boom Will Provide A $200B Boost To Wind And Solar Energy
  • 15 days Will The 5G Rollout Overshadow This Major Merger?
  • 16 days Corporate Bitcoin Holdings Boost Crypto Confidence
  • 16 days Indonesia Rolls Out Augmented Reality Innovation To Combat COVID
  • 17 days Banks Are Getting Rich On Pandemic Overdrafts
  • 17 days The Real Reason China Is Betting Big On Renewables
  • 18 days Europe Wants To End The Big Tech Monopoly
  • 18 days New Breakthrough Could Transform Rare Earth Mining
  • 19 days Waymo Set To Roll Out Fully Self-Driving Vehicles
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

Wave Counts Clear in the DOW and GOLD, Interesting Times Ahead

The market burst back into life this week and hidden within the price action are some interesting hints of what is to come in the future.

This weeks daily Elliott waveanalysis turned up some great calls in Cable, USDJPY and Gold, but this weeks price action also revealed something about the DOW which will have ramifications well into the future if I am correct.

Lets get into it shall we.


EURUSD:

On Friday the 30th I published this chart showing the DOW poised to decline in a possible wave three of three, and I said this.

"If I am correct in my thinking, this will be wave 'iii', of (iii) of 3.
So the downside potential is large given the setup. the key level for me is 1.0504,"

EUR/USD Chart 1
Larger Image

This wave count foresaw a significant decline straight ahead. The market traded down straight out of the gate on Tuesday morning and fell 160 points to the lows of the day.

EUR/USD Chart 2
Larger Image

EURUSD sits at a very dangerous point right now, with the larger wave count calling for significant declines in the near future. we will track every step of the way.


GBPUSD:

On Tuesday I started the new week and the new year with this chart, which is following the short term setup in Cable, the wave count wave calling for a corrective rally in wave 'c' of wave [iv], and the target was in the area of 1.2380.

At that point the market stood at 1.2240.

GBP/USD Chart 1
Larger Image

By Thursday evening the market had topped the target and reached 1.2420 – a nice 180 point rally. On Thursday evening I wrote "Cable kept to the script today with a rally to meet the upper trend line on that trend channel.

I think wave [iv] is complete here at todays highs."

The wave count had then called for a decline off the upper trend line, and by Friday's close the market stood at 1.2270

The larger trend is now back in force in GBPUSD which spells pain for future in this market.

GBP/USD Chart 2
Larger Image


USDJPY:

On Wednesday Evening the market stood at a precipice, and I wrote "I have labelled the price action today as a a bearish setup in a 'i,ii' 1,2 sequence to the downside. The wave 'ii' high at 118.18 is the first level to watch"

This wave count called for a steep decline dead ahead.

USD/JPY Chart 1
Larger Image

All throughout the day on Thursday, the market dropped like a stone, and by the end of the day the price had declined 230 points in one day.

EUR/USD Daily Chart
Larger Image

It was a solid move and reveals a lot about the larger trend in USDJPY, which may be at an important turning point in the larger trend.


The DOW:

I have been speaking of a looming disaster in the stock market for a while now, and as the days go by the wave counts in the DOW keep pointing to one larger theme.

That is; we are witnessing the completion of the greatest bull market in living history, right now!

This fact is lost on most people, but it should not be lost on you!

I released this revised wave count on Friday night which is the best interpretation of the ongoing short term action. This chart speaks of a rally that is completing at six degrees of trend.

And the future that is fore told here is not a pretty picture with plain sailing and bright blue skies, it is one of struggle and financial disaster at a scale not seen since the great depression.

In the short term the market will likely skirt past 20,000 and all will seem well. But the message that is hidden in the price action, is one that should be heeded, it is time to start protecting you wealth.

Dow Industrials Chart
Larger Image


GOLD:

Speaking of protecting your wealth!

The current wave count in Gold is pointing to a serious rally underway.

On the 20th of December I posted this chart and said this

"The decline off that high could be a completed five wave form, if so, it would be a failed fifth wave.
Where wave 5 of the structure does not break the extreme of wave 3. The daily RSI and MACD have now bottomed and are turning up. The signs are in, the rally is coming."

Gold Chart 1
Larger Image

By Friday's close the Gold price stood at 1172. and the bullish signs keep piling up.

Gold Chart 2
Larger Image

If the current Elliott wave counts are correct, it spells disaster ahead for the stock market, and a return to a bull market for Gold.

One thing is for sure, things are going to get interesting from here!

 

Back to homepage

Leave a comment

Leave a comment