ELLIOTT WAVE ANALYSIS - Latest Market Commentary

Stock Indices
9th May 2026 - Taiwan Semiconductor Manufacturing Co (TSMC) reported a +17.5% rise in April revenue on Friday, supported by sustained demand for advanced artificial intelligence chips - the company is a### major supplier to Apple Inc. and Nvidia Corp. has benefited from strong global spending on AI infrastructure and high-performance computing chips – its share price showed a modest gain of +0.28% to 415.31 – latest gains are approaching upside targets as a 3rd-of-3rd wave within the five wave impulse advance in progress from its Oct.’22 low which opens the door for a correction before month-end. It wasn’t quite the same outcome for quarterly earnings results for CoreWeave which features in today’s report – it reported mixed first-quarter results as demand for artificial intelligence infrastructure boosted revenue, though losses widened amid heavy spending on expansion - shares were down -3.4% overnight, continuing lower into today’s (Friday’s) session… Read full summary in our latest report!

Currencies (FX)
9th May 2026 - The US$ dollar index has unfolded into a short-term corrective zig zag upswing from Wednesday’s low of 97.62 completing into Thursday’s high of 98.28 – and today’s decline is very impulsive,### unfolding into a five wave sequence which together suggests the dollar will continue lower next week. Equally, although inversely, the Euro/US$ has undergone a short-term corrective zig zag downswing over the last couple of trading days which also suggests a push higher next week, strengthening the Euro, weakening the US$ dollar. Stlg/US$ has undergone a similar... Read full summary in our latest report!

Bonds (Interest Rates)
7th May 2026 - The US10yr yield has pulled lower over the last couple of days from Monday’s high of 4.463 to today’s low of 4.331 which has now isolated a preceding [a]-[b]-[c] zig zag upswing that began from the### early-April low of 4.224. This is confirming a short-term horizontal flat pattern is unfolding as minute wave 4 with current declines as wave [c] targeting back to retest 4.224+/- again. It’s a similar short-term story for the DE10yr yield – this week’s declines are part of a horizontal flat... Read full summary in our latest report!

Commodities
9th May 2026 - Gold and silver are expected lower during the next couple of months as intermediate wave (4)’s correction from January highs is expected to resume, but not before the US$ dollar index completes a### correction to the downside sometime next week. Further declines are not only forecast because of gold and silver’s individual wave progression but also because of the gold/silver ratio which is providing a clear... Read full summary in our latest report!

