ELLIOTT WAVE ANALYSIS - Latest Market Commentary
Stock Indices
12th February 2026 - U.S. indices have been unfolding from October’s highs as downward, corrective expanding flat patterns – composed of three main price-swings and labelled a-b-c, wave b is still approaching ###upside targets for the S&P 500 and Nasdaq 100 indices with another 3% max. 6% per cent upside to go before they reverse and head lower to begin wave c. But those b wave rallies from November’s lows have already finished in the Dow Jones and small-cap Russell 2000 – is this short-term divergence alerting to a more imminent top for the S&P and Nasdaq or is this simply a case of temporary performance related rotation? European indices have outperformed over the last month ... Read full summary in our latest report!
Currencies (FX)
12th February 2026 - The US$ dollar index completed November’s zig zag downswing from 100.39 into January’s low of 95.55 then responded higher to 97.98 whilst unfolding into a five wave impulse pattern. This is ###confirming further US$ dollar gains during the next several months, contrary to consensus opinion. Today’s report again updates some peripheral US$ dollar currency pairs, the Mexican Peso, the Polish zloty and the Norwegian Krona which all show dollar impulse downtrends from last year’s highs approaching, or already completing five wave patterns with ... Read full summary in our latest report!
Bonds (Interest Rates)
12th February 2026 - Several G10 2yr yield analysis has been completed during the last several days in preparation for this year’s 2026 Part III Currencies & Interest rate report/video, due later this month.### The consistent theme of relative outperformance vs. 10yr yields has caused the yield curve to steepen, but more importantly, has generated some intriguing Elliott Wave patterns too. The net result is that 10yr yields are more likely to remain within existing trading-ranges of the last year rather than accelerating lower as was thought before. In today’s report, US10yr yields illustrate... Read full summary in our latest report!
Commodities
12th February 2026 - Gold and silver began intermediate wave (4) corrections from their respective January highs whilst unfolding into a-b-c zig zag patterns. Minor wave a.’s initial declines have completed ###synchronously, ending into the early-February lows – both are now trading higher as minor wave b. although for gold, this is unfolding into a double zig zag whilst silver’s relative underperformance means wave b. is unfolding into an expanding flat – more upside progress expected during the next couple of weeks ahead of wave c. declines. Just yesterday...Read full summary in our latest report!
