ELLIOTT WAVE ANALYSIS - Latest Market Commentary
27th October 2016 - The quarterly earnings season continues its corporate roll-call with results from Apple Inc. disappointing analysts because it posted a third### straight quarterly year-over-year revenue decline. Thursday’s announcements included Twitter that beat expectations whilst Amazon will deliver its results after the closing bell. Whilst the S&P and Dow Jones (DJIA) indices continue to oscillate into a tight trading range, we turn our short-term attention towards the Nasdaq 100. Its recent push higher... Read full summary in our latest report!
27th October 2016 - The US$ dollar index’s decline over the last days from a new 7-month high of 99.11 has unfolded into a typical Elliott Wave zig zag correction### which means a higher high lies just ahead. But the larger advance from last May’s low is fast coming to completion as a double zig zag. This means that the dollar’s advance of the last months is set to stage a directional change. Recent strength is attributed to heightened expectations of a rate rise in December by the Federal Reserve, but also dovish Central Bank talk in Europe which has weakened the Euro and others within the bloc. The Yen which was in vogue back in August is now out of favour but in being so...Read full summary in our latest report!
Bonds (Interest Rates)
27th October 2016 - Heightened expectation that the Federal Reserve will raise interest rates at December’s meeting has had the effect of pushing the benchmark US10yr yield### to levels not seen since last May. The U.K.’s latest estimates for GDP came as a surprise to analysts as figures showed the economy grew post-Brexit by 0.5% between July-September. This pushed gilt yields higher but this also affected the De10yr bund yield too. From an Elliott Wave perspective, these latest gains in long-dated yields represent the final stages of a... Read full summary in our latest report!
27th October 2016 - Some latest data from U.K. investment bank Barclays’ illustrates how sentiment extremes often signals imminent reversal patterns. Its latest report details commodity investment inflows between January to ###September totalled $62.3 billion dollars, higher than the previous peak reached in 2009 at $58.3 billion. Not surprisingly, precious metals attracted most of the investment, much higher than Energy contracts and dwarfing Agriculture and Base Metals (see WaveTrack’s monthly EW-Commodity Outlook – just published).... Read full summary in our latest report!