The US markets are at record highs and the financial press is abuzz with calls of “secular bull run” and huge targets for the Dow and S&P. Not entirely unwarranted, I would say. But what are the internals of the markets telling us now? Let us take a look at the financials sector, which outperformed […]
Cable (GBP/USD) has been moving in a triangle pattern since 2009 and yesterday’s sharp and convincing dip below 1.5630 marked the end of this triangle formation. Cable’s monthly chart (above) with its Elliott Wave count shows that the currency is embarking on its 5th wave of decline. The target for this breakout is mammoth – Over the […]
Apple dropped below 623.55 on Friday and that marked a 5 wave decline on a small degree. We know that when a market declines in 5 waves it normally happens to be a part of a bigger move. With that in mind, let us look at the bigger picture – the real big picture. As shown in […]
The Nifty has been in the range of 5600 to 5400 for the sixth week and has kept everyone guessing as to which way the range would resolve. As a good trader, one needs constantly play devil’s advocate to your own views. So, here are the charts that present both the bullish and the bearish […]