It has been almost four months since the last time we examined the Dow Jones Industrial Average on March 29th. The benchmark index was still unable to recover from the sharp plunge to 23 360 in February. And while many hurried to declare the death of the post-2009 bull market, we instead decided to take…
Do you want a hint of where the economy is heading? Do you want to be prepared for the next boom or crash? Well, the economy lags the market. The charts of major benchmark indices like DJIA, S&P 500 or NASDAQ100 are the things you should be looking at, if you want to be ahead of the news.
Greece is Better and Elliott Wave Confirms It
History was made last week, when Greece and its euro zone partners made a deal on the country’s debt. Under the agreement, Greece has been granted a 10-year debt maturity extension and will not have to make any debt payments until 2032. While both sides see the deal as a win, some think it simply…
Swiss Stock Market: Is the Bull Run Over?
It has been over nine years since most stock market indices around the world declared the end of the Great Recession in March 2009. That was when the DJIA and the S&P 500 in the U.S. and the German DAX started recovering from their respective crashes. It was March 2009 when the Swiss stock market…
Elliott Wave Strengthens DAX 30 Bullish Outlook
It has been over four months since we last wrote about the German DAX 30. The blue chip index was trading around 12 700 following a sharp selloff from as high as 13 602. However, despite the fact that this plunge looked quite scary, the Elliott Wave Principle suggested that “it looks more like another…
Nifty 50 Still On Track for a New High Near 12 000
In mid-April the Indian benchmark stock market index Nifty 50 was trading near 10 550 after a recovery from a two-month plunge between 11 172 and 9952. Despite the recent pullback, the daily price chart suggested the uptrend was still in progress and the bulls should eventually be able to reach a new all-time high…
Dollar Index, Hold Your Horses (Bulls)
Three months ago, while the dollar index was trading below the 90.00 mark following another selloff, we published an Elliott Wave analysis suggesting the bulls were ready to stop the bleeding and lift the index to the resistance area of 95.00. The chart below was what led us to conclude a bullish reversal was on…
FTSE MIB: What Happened to Italy’s Stock Market?
It was a bad month for Italian investors. The country’s benchmark index – FTSE MIB or Milano Indice di Borsa – crashed from its May 7th high of 24 544 to as low as 21 122 yesterday on fears that the fourth largest economy in the European Union is on the brink of a full-blown…
CAC 40 Reaches Highest Level Since 2007
The French CAC 40 benchmark index climbed to 5629 yesterday. The last time it traded above 5600 was in late-December 2007 and while the price is still far from its 6192 all-time high, the current rally is no less significant, especially if we consider that just three months ago the bears dragged the CAC 40…
Fibonacci Support Sends Nifty 50 to New High
In our last article about the Indian Nifty 50 index, published on May 19th, 2017, we shared an opinion that the price “is probably going to reach the 10 000 mark from now on. Maybe even 10 500.” Eleven months later, the Nifty 50 is trading near 10 550 after reaching 11 171 in late-January,…
DJIA Bulls Still Alive After Two Months of Slaughter
DJIA bulls have not been in a good shape during the last two months, to say the least. The index registered its all-time high of 26 617 on January 26th, 2018, but has been in tailspin ever since, falling to as low as 23 360 on February 9th. After a swift but short-lived recovery to 25…
Nikkei Bears Only Getting Warmed Up
The last time we wrote about the Japanese Nikkei 225 index (NKY) was October 18th, 2017. While the price was hovering around 21 360, the weekly chart of the benchmark allowed us to recognize a worrisome Elliott Wave pattern, suggesting the bulls should be able “to reach 23 000 or maybe even 24 000“, but…
Dollar Index Bulls to Stop the Bleeding
2018 did not start well for the U.S. dollar, which fell against most of its rivals such as the Euro and the Japanese yen. As a result, the dollar index (DXY) did not shine as well. It fell to as low as 88.25 by mid-February before recovering to 90.23 a week later. The question we…
CAC 40 Poised to Recover After Selloff
The recent market selloff spared no-one. Investors were reminded what fear was after stocks plunged sharply all around the globe. From the Dow Jones Industrial Average to the German DAX 30 and even in China, major benchmark indices suffered their biggest declines in years. Needless to say, French stocks tumbled, as well. The French CAC 40…
DJIA Worst Day Ever in Elliott Wave Context
The DJIA fell by 1175 points on Monday, marking the worst daily decline in its entire 122-year history. In percentage points, however, yesterday’s selloff was not as big as Black Monday‘s 508-point crash on October 19, 1987, but it was still big and fast enough to make some investors wonder if this is the end…
DAX 30 Plunges to 12 700. What’s Next?
It has been a bad week for the German DAX 30. The benchmark index saw its worst weekly selloff in over two years after it plunged from 13 387 to 12 700 for a total loss of 5.1%. The crash seems a bit surprising to economists, who expected the stock market’s rally to continue on…
