ELLIOTT WAVE ANALYSIS - Latest Market Commentary
Stock Indices
27th June 2026 - The S&P 500 and Nasdaq 100 both declined into Friday’s session, competing five wave overlapping leading-diagonal patterns that began from their secondary mid-June highs. These represent the 1st waves### of developing five wave impulse declines – it’s another validation that larger corrective declines have begun from the earlier June highs. Outperforming semiconductor indices and equities are expecting to confirm peaks next week – this week’s analysis for Micron Technology (see Wednesday’s report) showed intermediate wave (3) in upside completion from its April ’25 low towards 1213.56 – it has since traded to 1255.00 following corporate earnings results - a ... Read full summary in our latest report!
Currencies (FX)
27th June 2026 - Comparing the US$ dollar index’s five wave diagonal in upside progress from January’s low of 95.55 with the inverse diagonal patterns unfolding in the Euro/US$ and Stlg/US$, there’s a noticeable### difference in their attempt at completing minute wave 3. The US$ dollar index’s advance as wave 3 is almost reaching upside targets of 101.97+/- having traded to 101.80 earlier this week – but the inverse equivalent declines for the Euro/US$ and Stlg/US$ haven’t yet got as close to their completion levels. That would suggest a little more US$ dollar strength before verifying the completion... Read full summary in our latest report!
Bonds (Interest Rates)
27th June 2026 - Europe’s DE10yr yield is testing important support at 2.826+/- into the close of today’s session – depending on how it responds next week will go some way in determining whether it then turns higher### to begin a 60bps upswing – or instead confirming a new downtrend has begun. This is also important for the US10yr yield because it’s still trading at levels that could yet allow another push higher as outlined in recent weeks shown as count #1a (see report dt. June 18th). The evidence is tilting to the downside though – the US2yr yield has hit upside targets ... Read full summary in our latest report!
Commodities
27th June 2026 - It now looks probable that gold’s minute wave 3 has now completed its entire double zig zag downswing from April’s secondary high of 4889.29 into Wednesday’s low at 3959.85. This is not quite### the same for silver, nor inversely for some currency pairs either. In an attempt to pull gold and silver’s patterns together, we’ve labelled minute wave 4’s correction as an [a]-[b]-[c] expanding flat pattern – wave [a] rallies expected to test towards 4253.25+/- sometime next week. Silver’s corresponding rally is only wave [b], still part of a secondary zig zag within... Read full summary in our latest report!
