ELLIOTT WAVE ANALYSIS - Latest Market Commentary

Stock Indices
16th May 2026 - Continued anxieties over rising inflationary pressures triggered by tightening global energy supplies has sent benchmark government bond yields sharply higher along with strong gains in the US$ ###dollar. AI technology stocks have mostly ignored these latest developments as fund managers turned their attention to the latest quarterly earnings of mega-caps and semiconductor stocks – but that’s just changed. The S&P 500 and Nasdaq 100 approached fib-price-ratio upside targets on Thursday, only to reject price levels and turn sharply lower, extending into today’s (Friday’s) session too. That’s confirming the…Read full summary in our latest report!

Currencies (FX)
16th May 2026 - Financial markets have been increasingly concerned about the prolongation of the closure of shipping through the Straits of Hormuz and inflationary consequences – this has lifted the US$ dollar index### higher, breaking nearby overhead resistance at 99.09 trading up to 99.31 tonight which is confirming the previous week’s low at 97.62 ended minute wave 2’s correction within the advancing five wave diagonal of minor wave c. This has confirmed further dollar gains ahead targeting well above Aprils’ high with ultimate targets for wave c. towards 102.96+/-, about +4% per cent higher basis tonight’s…Read full summary in our latest report!

Bonds (Interest Rates)
16th May 2026 - Anxieties over rising inflationary pressures has got the better of international bond markets with benchmark government short and long-dated yields breaking nearby overhead resistance levels, ###compounding recent gains into upside acceleration. We’ve been expecting this for sometime now, gains of between 35-60bps that continues advances that have been underway since early-March. This is considered to be a ‘final flip’ higher…Read full summary in our latest report!

Commodities
16th May 2026 - Gold has followed silver lower today which had already signalled a potential end to March’s rally during Wednesday’s session – gold traded down to 4511.99 tonight which confirms wave [ii]’s### correction that began earlier this month from 4501.10 (somehow) ended at 4773.53 with wave [iii] now in decline. The gold/silver ratio forewarned an imminent downside completion of primary wave B’s (A)-(B)-(C), 3-3-5 slanting flat pattern from February’s high of 72.21 during the last week and its completion was confirmed during Thursday’s session at 52.70. This is sending silver…Read full summary in our latest report!

