ELLIOTT WAVE ANALYSIS - Latest Market Commentary
Stock Indices
20th August 2026 - Today’s big news came from the U.S. Treasury dept. – it intends to increase its buybacks of long-term Treasury debt which immediately sent government benchmark bond yields lower, the US$### dollar lower although a more modest jump higher in U.S. stock indices. The effects may be short-lived even though the short-term pattern in the S&P 500 and Nasdaq 100 show a downward expanding flat pattern approaching completion from the earlier August highs – completion would send these indices to one more higher-high ahead of finishing upward ... Read full summary in our latest report!
Currencies (FX)
20th August 2026 - Today’s announcement from the U.S. Treasury department to increase its buybacks of long-term Treasury debt has weakened the US$ dollar, trading down to 98.77 tonight – it means lowering the dollar### index’s downside target as minute wave 4 towards the next support, at the fib. 76.4% retracement area of 98.60+/-. This changes the previous contracting-diagonal of minor wave c.’s advance that began from January’s low into and expanding-diagonal instead. Other dollar currency pairs strengthened – the Euro/US$ is now extending wave 4’s correction higher, towards 1.1723+/- and for Stlg/US$, wave e’s zig zag towards 1.3693+/-... Read full summary in our latest report!
Bonds (Interest Rates)
20th August 2026 - This week’s trading began with anxieties over rising U.S. treasury yields – the press was replete with headlines of US30yr bond yields breaking into new 19-year highs, at 5.337% despite last week’s### softer CPI inflation and weaker labour markets. The cause of higher yields was attributed to concerns over the financing of the U.S. national debt ceiling which approaches $40 trillion dollars. But then today’s announcement from the U.S. Treasury has [temporarily] changed all that. The department intends to increase its buybacks of long-term treasury debt, raising the maximum it will ... Read full summary in our latest report!
Commodities
20th August 2026 - Today’s announcement from the U.S. Treasury department to increase its buybacks of long-term Treasury debt has pulled treasury yields sharply lower, the US$ dollar lower, triggering another round### of buying in precious metals. This has extended gold’s advance within the corrective upswing that began from the end-June low of 3944.81 – it’s changed the declining contracting-diagonal pattern of minor wave c. that began from March’s secondary high of 5418.91 into an expanding-type pattern instead, widening boundary lines – but this is still the diagonal’s 4th wave with a 5th wave decline to begin soon. Silver’s contracting-type diagonal remains unchanged... Read full summary in our latest report!
