ELLIOTT WAVE ANALYSIS - Latest Market Commentary

Stock Indices
30th April 2026 - This week’s events are dominated by five central bank meetings and key technology quarterly earnings updates, due Wednesday (tonight) for Alphabet/Google, Amazon, Meta/Facebook and Microsoft### (after the market closes) then on Thursday, reporting comes from Apple Inc. Alphabet/Google shares added almost +7% after the tech giant posted first-quarter revenue of $109.9 billion - Microsoft shed -2% as the company reported $31.9 billion in capital expenditures and finance leases - Amazon shares fell -2% after the company reported first-quarter results that were above estimates – Meta/Facebook dropped -6% after the company’s capital expenditures for the first quarter came in at $19.84 billion. Overall though, the Nasdaq 100 held steady and ended up on the day, testing overhead resistance at 27542.50. We’re waiting to clarify whether April’s five wave advance in the Nasdaq 100 and the S&P 500 has completed...Read full summary in our latest report!

Currencies (FX)
30th April 2026 - The US$ dollar index’s advance from January’s low of 95.55 began minor wave c.’s five wave impulse, the concluding sequence of intermediate wave (2)’s a-b-c, 3-3-5 expanding flat pattern ###that originated from the July ’25 low of 96.38. Wave c.’s advance was defaulted as a five wave expanding-impulse with a typical 3rd wave extension – but April’s decline as a 4th wave correction has been so deep, it’s even overlapped the 1st wave high. This means changing wave c. into a diagonal-impulse instead, specifically, an ending/contracting-diagonal. Three waves up from 95.55...Read full summary in our latest report!

Bonds (Interest Rates)
30th April 2026 - The Federal Reserve announced keeping interest rates on hold at its 3.50-3.75% range although its voting member’s opinions were the most divided since 1992 noted rising concerns about### inflation in a policy statement that drew three dissents from officials who no longer feel the U.S. central bank should communicate a bias towards lowering borrowing costs. Jerome Powell’s central bank chief term ends on May 15. The US10yr yield pushed higher from 4.339 to finish near the session high of 4.435, confirming continued upside progress towards 4.627+/-. The European Central Bank ... Read full summary in our latest report!

Commodities
30th April 2026 - Gold is declining again with two apparent headwinds – a stronger US$ dollar and higher treasury yields. The US$ dollar has turned higher again as the Middle East conflict remains unresolved, pushing oil### prices higher, inflationary pressures higher – all bad news for gold. Prices resumed downside progress earlier this week but gained further momentum on today’s news of three dissentions amongst Federal Reserve policymakers who’ve opposed unchanged rates, voicing concerns of rising inflationary risks. Gold traded down to 4510.42 today, confirming the beginning of minuette wave [iii]’s next impulse decline. Silver is also lower, confirming minute wave 3’s downside acceleration. The United States has signalled there will be no easing of its ...Read full summary in our latest report!

