ELLIOTT WAVE ANALYSIS - Latest Market Commentary
Stock Indices
25th June 2026 - The benchmark S&P 500 and Nasdaq 100 indices have extended declines so far this week although there’s now a visible three wave sequence finishing into today’s lows from secondary highs – whilst ###this might seem to be a proportional corrective sequence, is more likely a fractal 1-2-1 sequence ahead of modest corrective rallies and then 3rd-of-3rd wave declines. This is because other indices are already reversing lower having hit tops late last week – the Eurostoxx 50, S. Korea’s Kospi and Japan’s Nikkei 225 are declining in five waves which confirm they’ve begun larger corrections. Today’s report updates the latest development in Micron Technology (MU)... Read full summary in our latest report!
Currencies (FX)
25th June 2026 - The US$ dollar index has attracted safe-haven buying coupled with repatriated dollars due to liquidation in foreign asset purchases linked to technology stocks this week, pushing the dollar ###index up to 101.80. This is approaching the completion of minute wave 3’s uptrend that began from May’s low of 97.62. Corresponding lows in the Euro/US$ are still short of downside targets of min. 1.1254+/- which suggests more dollar strength this week. Stlg/US$ is farthest away from completing minute wave 3’s decline that began from 1.3658 with targets far short at 1.2903+/-. US$/Yen ... Read full summary in our latest report!
Bonds (Interest Rates)
25th June 2026 - Last Friday’s update introduced the idea that it may be possible for the preferential wave count #1 to change locations for primary wave B’s correction, relabelling from an expanding flat### into a triangle with completion into May’s high of 4.685. That would suggest primary wave C’s next five wave impulse downtrend has already begun with significant implications ahead. The DE10yr yield’s ... Read full summary in our latest report!
Commodities
25th June 2026 - Gold failed to generate an upside extension to last week’s correction and instead has turned sharply lower again as inverse US$ dollar strength has continued to push the dollar index higher. Both### contracts are approaching terminal 3rd waves though. For gold, it’s possible that minute wave 3 has now completed its entire double zig zag downswing from April’s secondary high of 4889.29 - this is not quite the same for silver, nor inversely for some currency pairs either although this can be compensated ... Read full summary in our latest report!
