ELLIOTT WAVE ANALYSIS - Latest Market Commentary
Stock Indices
18th April 2026 - U.S. stock indices have had a phenomenal start to their new uptrends that began earlier this month following the downside completion of corrections that began from last October’s highs. Reflecting### back to this correction, it was a duplicate of the expanding flat pattern that unfolded in last year’s correction, except of smaller degree. This current advance is expected to unfold into a new five wave uptrend lasting into year-end – its 1st wave is what we’ve seen so far – its possible to count a five wave subdivision into Friday night’s closing levels and its accompanied with some bearish divergences in momentum indicators, validating a corrective 2nd wave decline unfolding sometime next week. That’s not quite the same for Europe’s indices – at best, Friday’s closing levels are completing third waves which means they’re either lagging behind or U.S. indices have simply ended third waves tonight and will only undergo a small correction next week as a fourth wave ahead of fifth waves higher through next week’s trading. One other thing – the negatively-correlated US$ dollar index does look like it has temporarily bottomed… Read full summary in our latest report!
Currencies (FX)
16th April 2026 - G7 currencies have undergone corrections from their March 13th highs/lows which are now testing limits for completion basis today’s levels. Some have unfolded into zig zags, others### expanding flat patterns – some have tested overlap levels, others slightly breaking beyond. Overall, when comparing across these currencies, our assessment is that these corrections are finishing now and are set to resume US$ dollar strength, currency weakness. The US$ dollar index’s correction has pulled lower from March’s high ... Read full summary in our latest report!
Bonds (Interest Rates)
18th April 2026 - Correlations between the various asset classes has been constant during the last several months – January’s decline in stock markets began even before the Middle East war broke out but this### coincided with declines in precious metals, but inversely, pushing the US$ dollar higher, eventually pushing government bond yields higher too. Now that stock markets have officially ended downward corrections with new uptrends in play, surely, we can expect everything else to reverse too? So far though, the US10yr yield’s five wave impulse advance ... Read full summary in our latest report!
Commodities
18th April 2026 - Gold’s negative-correlation with the US$ dollar index will be put to the test next week – if all goes according to plan, we’d expect the US$ dollar to push higher, pulling gold lower. Silver’s wave ###count has changed slightly – instead of minor wave b.’s expanding flat finishing into the early-March high of 96.41, it’s been extended to finishing a running flat instead, into this Friday’s high of 83.05 – this allows wave c. to resume lower, as originally planned – downside targets remain towards 51.33+/- although could trade even lower basis the current analysis of the gold/silver ratio. Crude oil has declined sharply as Iran ... Read full summary in our latest report!
