ELLIOTT WAVE ANALYSIS - Latest Market Commentary
Stock Indices
15th August 2026 - AI companies seem resolute in their continuing capex spending programmes with Nvidia announcing fund-raising partnerships with several of its peer corporates. With combined outlays set to surpass### $730 billion this year, Nvidia signed memorandums of understanding with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR for the financing platforms. Meanwhile, Anthropic investors expect the AI start-up to float at a valuation of $2tn or more in October, a dizzying figure that would eclipse SpaceX and make the AI lab’s debut the largest ever initial public offering. Raising capital either through private agreements or IPO’s at current rates bodes ill for stock market development as it saturates available capital liquidity. The first test of appetite is expected next week. Benchmark U.S. and European indices are ... Read full summary in our latest report!
Currencies (FX)
15th August 2026 - The US$ dollar index pulled back a little today, although holding above recent lows of 99.40 traded the week before. It’s still possible it could stretch a little lower, towards 99.20+/- max. 98.60+/- to complete### minute wave 4’s correction although time is running out – if it’s going to test lower levels, it’ll have to be early next week because other G10 dollar pairs are finishing their corresponding 4th wave corrections. That’s certainly the case for the Euro/US$ which traded up to 1.1585 although finishing it’s 4th wave rally, awaiting a reversal-signature decline next week to confirm a 5th wave decline has begun – Stlg/US$ has just reached minimum upside requirements for the completion of a multi-month triangle correction...Read full summary in our latest report!
Bonds (Interest Rates)
15th August 2026 - Despite a softer tone following Wednesday’s U.S. CPI inflation data, and Thursday’s PPI coming though flat, inflation expectations are still lingering. Boston Fed president Susan Collins said### businesses and households in the U.S. north-east were being squeezed by inflation that has been above the central bank’s 2% per cent goal for more than five years. Beth Hammack of the Cleveland Fed, Lorie Logan of the Dallas Fed and Neel Kashkari of the Minneapolis Fed warned inflation would become harder to tackle the longer it remained elevated. The US10yr yield is lingering below the recent high of 4.746 although its about to break higher to resume a larger 3rd wave advance that began from 4.359 late-June with targets towards 5.172+/-... Read full summary in our latest report!
Commodities
15th August 2026 - Gold edged a little higher during Thursday’s session to 4449.72 whilst trading marginally above fib. 50% retracement targets of preceding wave 3’s decline as the min. upside requirement for### wave 4. The negatively-correlated US$ dollar index is set for a reversal-advance next week following the downside completion of its inverse 4th wave correction with a 5th wave advance expected to get underway – that would surely pull gold lower to begin minute wave 5’s next but final decline within minor wave c.’s diagonal pattern. Silver is similarly approaching a corrective 4th wave rally from June’s low of 55.62 towards upside targets of either 66.79 or max. 68.50+/-. If 68.50+/- is to be tested next week, it’ll have to hold above tonight’s ... Read full summary in our latest report!
