ELLIOTT WAVE ANALYSIS - Latest Market Commentary

Stock Indices
4th June 2026 - Technology stocks were among the outperformers this week with microchip manufacturer giant STMicroelectronics surging to its highest level in more than 25 years following its decision to lift ###revenue targets for its key data centres business -- the latest indication of soaring enthusiasm for artificial intelligence. It’s exponential rise from March’s low of 25.41 means today’s high at 69.72 is overstretched and about to undergo a correction with its prevailing uptrend. Today’s report features another semiconductor equity that’s making headlines – South Korea’s SK Hynix (000660.KS) – it’s approaching a 3rd wave high within a five wave uptrend... Read full summary in our latest report!

Currencies (FX)
4th June 2026 - The US$ dollar index completed a short-term correction as minuette wave [b] from the May 21st high of 99.51 ending last Friday at 98.75 – today’s push higher has coincided with U.S. stock ###indices staging an inverse downside reversal decline with gold trading lower too – positively-correlated interest rates higher, Crude oil higher. The US$ dollar now looks set to extend higher as minuette wave [c], targeting 100.75+/-. This is the first zig zag within minute wave 3’s double zig zag pattern where higher targets remain towards 101.97+/-. Minute wave 4’s correction follows, towards fib. 61.8% ret. levels of 99.26+/- ahead of wave 5’s final advance towards 102.96+/- as the completion of minor wave c.’s ending/contracting-diagonal pattern.... Read full summary in our latest report!

Bonds (Interest Rates)
4th June 2026 - The US10yr yield has remained fairly static so far this week although Monday’s initial decline looked set for continued downside progress to min. 4.340+/- but then changing direction from a ###low of 4.421 during Tuesday’s session, heading back higher today to 4.495. Count #1a begins to gain more credibility which depicts higher yields, targeting 5.131+/- because the positively-correlated US$ dollar is set to resume higher whilst negatively-correlated stock markets head lower to begin corrections. Eurozone inflation accelerated further last month, ... Read full summary in our latest report!

Commodities
4th June 2026 - Gold has turned lower from last Friday’s high of 4595.21 to today’s low of 4424.23 whilst unfolding into a proportional three wave sequence, the hallmark of a corrective zig zag – if prices### hold above the previous week’s low of 4366.72, then gold can push higher to test 4655.75+/- and complete a zig zag upswing as sub-minuette wave (ii). A corresponding corrective rally is also possible for silver. Overall though, precious metals remain locked into continuing January’s corrective...Read full summary in our latest report!

