ELLIOTT WAVE ANALYSIS - Latest Market Commentary

Stock Indices
23rd April 2026 - April’s exponential impulse trend higher has legs to stretch a tiny bit higher in several indices although they’re all fast approaching completion. The S&P 500 and Nasdaq 100 have reached minimum### targets already, although they’re expected to extend further as European indices are set to reverse higher as 5th waves following 4th wave corrections complaint earlier today. Since the Middle East war broke out, correlations with other asset classes have been important – stock index gains are positively-correlated to precious metals whilst negatively corelated to the US$ dollar, interest... Read full summary in our latest report!

Currencies (FX)
23rd April 2026 - It’s taking time, but the US$ dollar is gradually recovering from the recent sell-off from March’s high of 100.54 ending into last week’s low of 97.63. This week’s upside progress isn’t much, ###but it’s enough to heighten the probability of continued upside progress. This preceding downswing between 100.54-97.63 was a little overdone basis a 4th wave correction because of overlap with the 1st wave... – Read full summary in our latest report!

Bonds (Interest Rates)
23rd April 2026 - Both the US10yr yield and Europe’s DE10yr yield have held nearby short-term support levels and are now pushing higher from last week’s lows. This has significantly heightened the probability of ###further gains for the US10yr yield which is missing a 5th wave advance within March’s five wave upswing as minor wave c. of intermediate wave (2)’s horizontal flat correction – targets remain towards 4.627+/-, ... Read full summary in our latest report!

Commodities
23rd April 2026 - Simultaneous upside rallies from March 23rd lows have unfolded in gold and silver – gold completed this rally as a 4th wave last week at 4889.29 within its incomplete five wave impulse ###decline as minor wave c. that began from February’s high of 5418.91 – a 5th wave decline is expected towards targets of 3796.94+/-. Silver has comparably finished its rally but as the concluding sequence of minor wave b.’s corrective running flat pattern ... Read full summary in our latest report!

