learn more about EW Forecasts

ELLIOTT WAVE ANALYSIS - Latest Market Commentary

Stock Indices

3rd December 2022 - The disparative performances in U.S. indices since bottoming last October is revealing some alarming signals just ahead. Whilst the Dow Jones index has fulfilled its five wave upside objectives by retesting and even breaking above ###the August highs, the S&P 500 and Nasdaq 100 have failed to reach corresponding levels – besides, they’ve also failed to develop into five wave impulse patterns, the finalising sequence to corrective flat patterns that began from June’s lows. With the Dow’s rallies coming to an end now, we must consider the S&P 500 and Nasdaq 100’s rallies from October’s lows are completing [a]-[b]-[c] zig zags, corrections to August’s five wave impulse declines – if so, that explains their relative underperformance because as corrections, they’re only expected to partially retrace the preceding downswing. But it forewarns of a more imminent top for all the major indices, something we’d originally thought would extend into year-end – that’s unlikely now. There’s still a little more room left to the upside, but not a lot. These major indices are getting ready to resume this year’s declines, extending though Q1 next year, 2023. It’s the same for European indices – The Eurostoxx 50 and Xetra Dax’s advances from September’s lows have reached upside targets, a revisit back to last March’s highs – so they’re ready to turn down soon too. The higher the rallies, the more downside potential over the next several months. If stocks are ready to decline, then we’d expect … Read full summary in our latest report!

Financial Updates Currencies

Currencies (FX)

3rd December 2022 - An alarming signal in stock markets suggests June’s/October’s upside counter-trend rallies are approaching completion with inherent downside risk of prices declining rapidly over the next several months. This translates into an inverse upside### rally for the US$ dollar. As September’s declines break below nearby support levels this week, confirming 114.78 was the peak dollar, the only way a dollar rally could begin soon is if it’s finishing five waves down from that September high. That certainly seems possible with next downside targets just below tonight’s closing level of 104.50 at 102.82+/-. Should the dollar finish five waves down around this area, coinciding with a stock market high followed by reversal-swings in both assets, then it…Read full summary in our latest report!

Financial Updates Bonds

Bonds (Interest Rates)

3rd December 2022 - Major stock indices are approaching their upside targets for the completion of counter-trend rallies that began last June/October (U.S.), March/September (Europe). Relative underperformance in varying U.S. indices is providing### an early-warning of an imminent top, with heightened risk of declines beginning within the next week, maybe two. Ordinarily, the negative correlation with long-dated yields suggests we should be searching for a low in the US10yr and DE10yr yields, but there’s no such indication so far in treasuries – a five wave impulse pattern is in downside progress from October’s high of 4.323 but it still has a long way to go before completing wave (C) of an expanding flat correction where minimum targets remain towards 2.865 (closing tonight at 3.492). Does that mean the correlation breaks down temporarily or will the US10yr yield decline more rapidly in a catch-up scenario? In contrast, the DE10yr yield seems…Read full summary in our latest report!


3rd December 2022 - The gold miners gave clearer Elliott Wave buy signals last month than did bullion gold and silver despite downside targets coming within close proximity of idealised levels last September. The US$ dollar has since declined rapidly, providing### bullish momentum for gold and silver and yet they’ve only unfolded into three wave sequences, so far, from those September lows. Overhead resistance is at 1804.60+/- (traded today) and 23.90+/- (23.16 tonight) so not far off in testing out these barriers. Should gold and silver turn down from these test levels, coinciding with a US$ dollar low, completing five waves down from September’s high of 114.78, then we can expect to see a dollar counter-trend rally begin, coinciding with a dramatic downturn for gold and silver. Crude oil has dislodged its correlation to just about everything else. The Group of Seven (G7) nations and Australia announced they had agreed a $60 per barrel price cap on Russian seaborne Crude oil…Read full summary in our latest report!



Bloomberg hosted a Precious Metals Forum on 23rd May and WaveTrack International was invited to present our latest Elliott Wave price-forecasts. The event was sponsored by the CME Group and Johnson Matthey.



  • The 2013 outlook for global stock indices and commodities remains very bullish and is entering the last stage of the ‘inflation-pop’ phase that originally began from the post-financial crisis lows of 2008/09
  • This is expected to ignite another period of asset buying that increases risk-on multiples by a minimum 45% per cent and in some cases as much as +300% per cent, sending some global stock indices and commodities into record highs
  • Shorter-term, there is a danger of a downward adjustment of -5-8% per cent, but then sharp price advances to resume
  • Commodity related stock indices and equities are expected to outperform as a sector during the next 12-16 months
  • Banking stocks to participate, but most will not exceed their pre-financial crisis highs

As always, this year’s Outlook & Forecasts for the next twelve months are created applying the Elliott Wave Principle for the assessment of pattern and price amplitude, also Cycle Analysis for the timing of the larger trend reversals. Not always do they jive, but they seldom contradict and more often, provide valuable insights into one or two variations of a similar theme within a seemingly unlimited amount of possibilities.

Even though this report outlines the price expectancy of all asset classes for 2012 it will also illustrate how this coming year fits together into the larger picture. The reasoning behind this is to move away from the 'black-box' stereotype and show you why the results relate to their specific outcome. Overall, this report deals with two different time-periods – long-term and inter-mediate term. Long-term refers to the uptrends from the Great Depression of 1932 onwards and inter-mediate term for the coming year and into 2013.


What do you see when looking at an Elliott Wave chart? Just lots of numbers & letters overlaying the price data? – or do you see definable patterns that are immediately familiar? And how do you interpret the results of the analysis and put it into an effective trading plan? Read on and test your own knowledge of these subjects and much more...


Recent reports of a Commodity Super-Cycle grabbed my attention for two reasons – first, this is diametrically different to the outlook I foresee developing during the next decade, and second, this terminology has surfaced at a time when various commodities have already undergone large percentage gains measured from the Feb.'09 lows


The primary theme of this presentation focuses on a 'Deflationary' outlook, forecast as the dominant aspect continuing during the next decade. This is derived from analysing the Elliott Wave pattern structure of the CRB (Cash) Index during its expansionary period of the last 76 years.


The Update Alert! messaging service of EW-Forecast Plus responded to the sharp collapse and the following recovery of US stock indices during the volatile trading session on the 6th May.


This analysis centres around the S&P 500 that is used as a proxy for other global indices. The great bull market beginning from the 1932 low ends 68 years later in 2000 - other global indices peaked later in 2007 (75yrs) – some still continuing to progress.



Our Flagship Institutional Service updating multiple time-frames across all asset classes...

Live Update FORUM

A unique advisory service that links you 'Live' in a private online meeting room with our analysts...

WTI Alerts

'Register' now and receive the latest EW-Product-Alerts via e-mail with updates for WaveSearch & up-coming tutorials and seminars.


"I just wanted to congratulate you on the EW-Compass reports launch. I'd say all the work you've all put into this project is well worth it… never cease to be amazed by the harmony that you find between the fib relations you highlight and the Elliott count you propose. You are a true descendant of RNE, and I'm quite sure he'd have really loved to see your work… Another aspect that sets you apart is your deep knowledge of the how and why of pattern relationships between higher & lower degrees of the same price action. So much to learn there". - T.S.



The Wave Principle, often referred to as Elliott Wave is a unique methodology that applies Natures Laws, those encompassing the Natural Sciences and Universal Geometric Philosophies to the financial markets. It allows us to view price fluctuations as an organised process that can be non-linearly extrapolated to gain a glimpse into the future direction of trends, counter-trends and amplitudes on any market or contract traded around the world.

Expanding Diagonal Patterns - Do they actually exist? - Elliott's inclusion of the Contracting Diagonal

In R.N.Elliott's original treatise of "The Wave Principle (1938)", he introduces us to diagonal patterns for the first time on page 21. Under the heading, Triangles, Elliott describes the difference between horizontal triangles that represent hesitation within an ongoing, progressive trend and diagonal triangles that form the concluding 5th wave of a larger five wave sequence.


Tradersworld Online Expo #12 – Starts 12th November 2012

Peter Goodburn will be presenting his latest Elliott Wave analysis at the 12th Trader Expo held online for 7 weeks starting on 12th November 2012 and ending in the new year on 6th January 2013. Peter’s presentation is entitled “Elliott Wave Price Forecasts & Cycle Projections – Three Phases of the 18 Year Bear Market ~ ‘Shock–Pop–Drop’” for more information visit http://tradersworldonlineexpo.com/

Announcement: 123rd Battery Council & Trade Fair Convention in Miami, 1-4 May 2011

Peter Goodburn will be presenting his latest Elliott Wave analysis at the 123rd Trade Fair Convention of the Battery Council in Miami, 1-4 May 2011. Peter’s presentation is entitled "The Historical Price Trend of Lead and Applying the Elliott Wave Principle to plot its course into the Future".