ELLIOTT WAVE ANALYSIS - Latest Market Commentary
Stock Indices
29th August 2026 - Federal Reserve’s Kevin Warsh’s warning that inflation isn’t meaningfully slowing sent the US10yr yield sharply higher, triggering a reversal in the US$ dollar index and inverse reversals### in precious metals. U.S. stock indices were heading higher before the comments, building on rallies after finding support earlier in the week but that came to an abrupt end with declines late-session. Most of June’s corrective rallies have already completed – it was just a question as to whether the final advance could extend a little further, or not. It’s still possible that tonight’s (Friday night’s) sell-off reverses higher early next week.... Read full summary in our latest report!
Currencies (FX)
29th August 2026 - The US$ dollar index accelerated sharply higher today in response to Federal Reserve’s Kevin Warsh’s warning that inflation isn’t meaningfully slowing – his Jackson Hole comments also### sent treasury yields higher, maintaining positive-correlation with the dollar. Trading has taken the dollar index up to 99.72, enough to qualify a reversal-signature advance from last week’s low of 98.56 which has now confirmed the downside completion of minute wave 4’s correction that began from end-June’s high of 101.80 – wave 5’s next advance has quite a long way to go, up to targets of 102.96+/- or about +4.4% higher during the next couple of months. All the other G10 dollar currency pairs sold off – the Euro/US$ has now confirmed its corresponding upside completion of June’s correction as minute wave 4 within the declining diagonal – wave 5 heading lower now – Stlg/US$’s triangle pattern...Read full summary in our latest report!
Bonds (Interest Rates)
29th August 2026 - Central bankers tilted to the hawkish side at Jackson Hole’s meeting with U.S. Federal Reserve chairman Kevin Warsh warning that inflation isn’t meaningfully slowing and that policymakers must be### confident that it is, otherwise the central bank has ‘work to do’. European Central Bank. ECB Governing Council member Primoz Dolenc said today that there’s a good case to raise interest rates next month ‘to safeguard our inflation target’. The US10yr yield swung higher on the statement, trading from an earlier pullback to 4.651 to the day’s high of 4.729 into the... Read full summary in our latest report!
Commodities
29th August 2026 - Central bankers tilted to the hawkish side at Jackson Hole’s meeting with U.S. Federal Reserve chairman Kevin Warsh warning that inflation isn’t meaningfully slowing and that policymakers must be### confident that it is, otherwise the central bank has ‘work to do’. The US$ dollar index pushed strongly higher and inversely, triggering downside acceleration in gold, leaving behind last Tuesday’s high of 4697.11. This has now confirmed larger declines have begun minute wave 5, the final sequence of minor wave c.’s ending-type diagonal. The hawkish Fed news pulled silver sharply lower having tested slightly higher prices earlier in the day, at 71.12. The 71.12 high traded right into corrective upside targets of minute ... Read full summary in our latest report!
