Friday, July 22, 2016

Apple - Correcting in wave B to 103.60 before the next move lower towards 55.01


Apple - Correcting in wave B to 103.60 before the next move lower towards 55.01 
The correction in wave B of Z should test 103.60 before completing for the next decline in wave C lower towards 55.01. 
Short term a minor setback to 98.25 should be expected from where the final rally to 103.60 should be seen to complete wave B and set the stage for the next decline in wave C of Z.

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Thursday, July 21, 2016

DOWI - Set To peak in the 19,989 - 20,098 area


DOWI - Set To peak in the 19,989 - 20,098 area

The clear break above 18.351 calls for more upside into the 19,989 - 20,098 area before a long term top is expected to be in place for a major correction. 

On June 21 I posted my long term view for DJI (you can see that post by clicking here). In this post, I said, that a clear break above 18,351 will call for an alternate long term count. This alternate count calls for a wave III top at 20,098 of the rally from 1932. 

On July 13 the former top at 18,351 was taken out and the shift to the alternate count calling for a rally towards 20,098 was a fact. 

As long as support at 17,063 protects the downside, I will be looking for more upside towards the 19,989 - 20,098 area before the long term top finally is in place. 

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Wednesday, July 20, 2016

Copper - Can blast higher towards 2.64 - 2.68 anytime now




Copper - Can blast higher towards 2.64 - 2.68 anytime now 

Copper is now in the position to blast higher anytime now. 

The long term Elliott Wave Count called for important corrective low in mid-January at 1.9355 for a rally back to the top of wave (iv) of C at 2.97. 

Since mid-January low a five wave rally was seen to 2.32 in wave (i) which was followed by a prolonged flat correction in wave (ii) to a low of 2.01 and wave (iii) higher is now getting ready to really take off towards the 2.64 - 2.68 area. 

Short term, a break above minor resistance at 2.27 will be the "GO" for a strong rally in wave (iii) higher. 

A large Inverse S/H/S bottom can be seen. The neckline resistance near 2.16 has been broken and once the ongoing consolidation just above the neckline is complete that will call for a measured rally towards 2.68. 

So copper has everything going for it at the moment, so keep an close eye of minor resistance at 2.27 as the trigger for the next strong rally higher. 

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Wednesday, June 29, 2016

Time to vacation in the Italian Alps

It's time to a break and I will be traveling to the Italian Alps for the next two weeks. There will be no updates during that period. 

Trade wisely and take care
EWS

Silver - Is testing important resistance at 18.51


Silver - Is testing important resistance at 18.51 

Silver is trying to break above the Inverse S/H/S bottoms neckline near 18.00 and more importantly above resistance at 18.51 and if the later is broken too, then a rally towards the measured S/H/S target at 22.05 should be expected as a minimum, but this rally could easily extend higher towards 25.10. 
The Inverse S/H/S neckline at 18.00 will now shift from resistance to support and will ideally protect the downside, but only a break below support at 17.52 will question the break above the neckline. 

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Tuesday, June 28, 2016

Apple - Correction from 134.54 is headed towards 55.01



Apple - Correction from 134.54 is headed towards 55.01

Already on April 29 - 2015 I called the top at 134.54 and said then, that a decline to the previous low of 55.01 was to be expected (you can see that post here) and on August 4 - 2015 I said that the top at 134.54 was confirmed and a corrective decline to 55.01 should be expected (you can see that post here). 
Well the correction from 134.54 is well under way, and it should just be a matter of time before support at 89.47 is broken for the next decline to 67.40 and then 55.01. 
Short term, resistance is seen at 94.66. This resistance is expected to protect the upside for the break below 89.47 for the next wave lower to 67.40 and 55.01. 

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Thursday, June 23, 2016

CHF/JPY - Ending diagonal complete



CHF/JPY - Ending diagonal complete 

The ending diagonal resistance-line has just been broken confirming that the ending diagonal is complete. This means a rally towards the origin of the ending diagonal at 117.42 should be seen within half the time it took for the ending diagonal to develop. 
Short term support is found at 109.30, but I doubt this support will be seen.  
However. the ending diagonal also completed the long term corrective decline from 138.92 and this top should ultimately be broken as the next long term impulsive rally develops. 

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