ELLIOTT WAVE ANALYSIS - Latest Market Commentary
Stock Indices
27th August 2026 - Nvidia reported better-than-expected fiscal second-quarter results tonight and issued revenue guidance that topped estimates - the stock initially slipped from the official close of 209.66 to ###203.96 but has since traded up to 220.76 in the after-hours session. Despite this rally, it’s considered unlikely to break above nearby resistance at 227.92 which ended a corrective rally from end-June’s low of 189.80. That said, both the S&P 500 and Nasdaq 100 were testing short-term downside support levels ahead of Nvidia’s results and they’ve both traded sharply higher in the after-hours session which could suggest those elusive upside targets... Read full summary in our latest report!
Currencies (FX)
27th August 2026 - The US$ dollar index has achieved the downside completion of minute wave 4’s correction from the late-June high of 101.80 into last week’s low of 98.56. This has coincided with a corrective low in ###US10yr treasury yields and an inverse high in precious metals – no coincidence! The dollar’s advance from 98.56 has so far, unfolded into a five wave leading/contracting-diagonal pattern finishing at today’s high of 99.23 – this heightens the probability of wave 5’s new advance getting underway. The corresponding wave 4 rally from June’s low in the Euro/US$ appears to have completed last week too, at 1.1711 with a modest decline today, heightening the probability that wave 5’s decline has begun – a similar story for Stlg/US$ where June’s zig zag rally is close to confirming upside completion into last week’s high of 1.3675 - Central bankers meet at Jackson Hole Thursday/Friday with discussion centred around last week’s U.S. treasury decision to intervene in the bond market and before that, joining Japan... Read full summary in our latest report!
Bonds (Interest Rates)
27th August 2026 - Central bankers meet at Jackson Hole Thursday/Friday with discussion centred around last week’s U.S. treasury decision to intervene in the bond market – and differing policy division between the### treasury and the Federal Reserve. And today’s latest U.S. inflation data showed a jump higher in personal income, from consensus expectations of 0.2% to 0.4% whilst the PCE price index came through a notch higher than expectations of 0.1% at 0.2% per cent. That initially pulled the US10yr yield lower to 4.607 but in doing so, has just completed a satisfactory 2nd wave correction that began from July’s high of 4.713 as minute wave 2. In Europe, the DE10yr yield pulled... Read full summary in our latest report!
Commodities
27th August 2026 - Gold has responded to overhead resistance traded yesterday (Tuesday) at a high of 4697.11 with a decline today to 4583.24 although so far, only three waves down where five are necessary ####before confirming the upside completion of minute wave 4’s corrective rally that began from end-June’s low of 3944.81. Silver’s corrective rally from its end-June low of 55.62 is approaching upside completion as minute wave 4 although only three waves down from last week’s high of 70.01 so there’s still a possibility of this rally stretching just a fraction higher, to targets of 70.50+/- before signalling a reversal-signature decline that begins ... Read full summary in our latest report!
