Saturday, 20 September 2014
Friday, 19 September 2014
Friday, 12 September 2014
Friday 12Sept2014 - Gold Price Update!
It has not been a good past weeks and months for Gold Bugs.
It appears that Gold has broken down below technical support levels and is headed lower to much lower target points.
The following from EWI Financial Short Term Update.
$1086.60-$1104.70, where wave (5) would be 61.8% of wave (1) and the 50% retracement of the 1999-2011 rally. The next target area is $889.50-$956.00, where wave (5) and (1) would be equal and
the 61.8% retracement of the 1999-2011 advance. It won't be a straight drop to these areas though.
It has not been a good past weeks and months for Gold Bugs.
It appears that Gold has broken down below technical support levels and is headed lower to much lower target points.
The following from EWI Financial Short Term Update.
[Gold]'s break of $1240.62 indicates that Intermediate wave (5) is underway. The initial target range is:
the 61.8% retracement of the 1999-2011 advance. It won't be a straight drop to these areas though.
Friday 12Sept2014 - Update re Long US Dollar/Short Euro Trade!
I have decided to take short term trade profits on Euro and sell position at 19.05US.
There has been a substantial run up in the US dollar vs the Euro and ProShares Ultra Short the Euro vs the US dollar (EUO-NYSE) has had a similar run up that looks like a blowoff.
I look for a correction to buy back into EUO after a decent retraction of the most recent unsustainable surge in share price. If EUO continues to rise - so be it.
Wait for a better entry point to reenter the week to months short term trade.
Charts as follows:
Chart from EWI Short Term Financial Update the Elliott wave pattern and most likely the ending of current wave 3 of 5.
And the second chart showing the June2014 EUO breakout above the 18 month downtrend line and the current $19US stock price.
I think a consolidation back toward the 10 and 20 EMA around $18 would be a reasonable re-entry point to trade this move in the Euro vs the US Dollar.
I have decided to take short term trade profits on Euro and sell position at 19.05US.
There has been a substantial run up in the US dollar vs the Euro and ProShares Ultra Short the Euro vs the US dollar (EUO-NYSE) has had a similar run up that looks like a blowoff.
I look for a correction to buy back into EUO after a decent retraction of the most recent unsustainable surge in share price. If EUO continues to rise - so be it.
Wait for a better entry point to reenter the week to months short term trade.
Charts as follows:
Chart from EWI Short Term Financial Update the Elliott wave pattern and most likely the ending of current wave 3 of 5.
And the second chart showing the June2014 EUO breakout above the 18 month downtrend line and the current $19US stock price.
I think a consolidation back toward the 10 and 20 EMA around $18 would be a reasonable re-entry point to trade this move in the Euro vs the US Dollar.
Wednesday, 10 September 2014
Wednesday 10Sept2014 - Are Stock Markets Due to Decline?
From Elliott Wave Short Term Financial Forecast.
From Elliott Wave Short Term Financial Forecast.
Minor wave 5 of Intermediate wave (5) of Primary wave C (circle) of Cycle wave b again stalled at the top line of the parallel channel formed by the Primary wave C (circle) rally from October 2011. Sentiment has remained extreme throughout the year, as the Investors Intelligence Advisors' Survey shows the bullish percentage at over 80% (bull/bull+bears). The initial leg of Cycle wave c will not be a slow, grinding affair: it will be a "collapse," as noted in the new issue of The Elliott Wave Theorist.
Monday, 1 September 2014
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