ELLIOTT WAVE ANALYSIS - Latest Market Commentary
Stock Indices
10th October 2025 - Omega Family Office chairman Leon Cooperman, Amazon’s Jeff Bezos and Goldman Sachs boss David Solomon have now been joined by JP Morgan boss Jamie Dimon in warning of an AI-driven stock market### bubble. He said in a media interview that he was 'far more worried than others' about the risk of a serious correction – it follows a public release from officials at the Bank of England and IMF who’ve both raised concerns about inflated valuations. Despite the timing of coincidental warnings, Dimon did say that a correction could happen within the next six months to two years! – that’s a long … Read full summary in our latest report!
Currencies (FX)
10th October 2025 - US$ dollar index has continued higher over the last couple of days with a clean break above the late-September high of 98.60 heightening the probability of upside progress as minor wave### c.’s five wave impulse that began from September’s low of 96.22. It was always our belief that once the US$ dollar began to lift higher, it would align to US10yr yields heading higher (positive-correlation) whilst signalling the end of a risk-asset splurge that’s unfolded in stocks and gold since last April (negative-correlation). Other currencies trading in the G10’s are leaning to the downside – the Euro/US$ is breaking down as is Stlg/US$ - both are engaged in corresponding impulse declines from September’s highs as the concluding sequences of corrective expanding flats/zig zags. The weakest currencies against the US$ dollar are currently the Yen and Canadian dollar – US$/Yen has already …Read full summary in our latest report!
Bonds (Interest Rates)
10th October 2025 - Further gains in the US10yr yield seem likely because of two aspects – first, May’s high at 4.627 (which completes intermediate wave (2) basis count #1) marked the beginning of a double zig### zag downswing ending into the September low of 3.989 which becomes minor wave b. of a developing flat correction – wave c. is now in upside progress heading back to horizontal highs of 4.627+/-. Second, there’s an increasing probability of this run higher as wave c. because the initial advance from 3.898 has unfolded in five waves to 4.199 and followed by a zig zag correction ending at 4.074 last week. We’ve been probing ways in which to realign analysis between the US10yr yield and …. Read full summary in our latest report!
Commodities
10th October 2025 - Wednesday’s Elliott Wave Market Update Alert! email revised gold’s wave labelling within the impulse uptrend from the Sep.’22 low of 1614.00, promoting minor wave iii. three to intermediate wave### (3) because prices have already approached original upside targets of 4262.00+/- shown in fig #172 of the mid-year EW-Commodities report/video – details here. Silver’s advance from April’s low of 28.37 is maintained as minor wave i. one of intermediate wave (3) as updated in the weekly chart in Wednesday’s Elliott Wave Market Update Alert! email (please see your inbox for details). Both gold and silver could confirm a top within the next few trading days. Recent rallies in Crude oil have unfolded into three wave activity which suggests counter-trends within continuing declines. But the lack of downside thrust combined with a technical oversold condition does keep us guessing why downside progress is so hesitant. Caution advised at the moment! Read full summary in our latest report!
