Dow Jones Sends a Warning Investors Can’t Ignore

The price movements of financial instruments form repetitive patterns, called Elliott waves. Experienced analysts try to recognize those patterns in order to prepare for the next market move. Sometimes, a pattern can indicate not only one, but the next two consecutive moves. The triangle pattern, for instance, is known to precede the last wave of…

Read More »

Nvidia Stock to Take a Turn for the Worse?

Nvidia shareholders have plenty to be grateful for so far in 2019. The stock is up nearly 37% since we wrote about it in January. On the third day of the new year NVDA was hovering around $136 a share following a sharp selloff from ~$293. However, the five-wave impulse pattern formed by this plunge…

Read More »

USDJPY Pattern Makes More Sense than Politics

The last two weeks were different like night and day for USDJPY traders. The pair fell from 108.47 to 106.48 during the first three days of October and eventually closed the week in negative territory. The last five trading days, on the other hand, told a much different story. Last week, USDJPY rose from 106.66…

Read More »

Gold Traders Better Off Ignoring the News

In our previous article about the precious metal readers saw how the Elliott Wave principle put us ahead of gold ‘s $72-decline from $1531 to $1459. In short, the hourly chart made us think a three-wave decline from $1555 was still in progress. Hence, the bears remained in charge and more weakness could be expected.…

Read More »

Verizon Nears a New Record. Can it Last This Time?

Verizon stock reached its all-time high twenty years ago, in October 1999. The dot-com bubble was at full swing and few questioned the validity of the bullish thesis. Stocks were supposed to never stop rising and make everyone rich. Unfortunately, the bulls gave up as soon as Verizon touched $64. Nine years later, in October…

Read More »

Masco Stock Can Lose 50% Once it Reaches $50

Masco Corp. was founded in 1929 – the year the Great Depression started. The company survived and prospered during the next 90 years and seems to be in a healthy shape in 2019. People will always need home-improvement products and Masco will probably be around for many years. However, as the prospects for the global…

Read More »

The Bears Rule Over Ethereum Under $225

We last wrote about Ethereum on August 9th. The second largest cryptocurrency had plunged by 42% in less than two months and was hovering around $210. Unfortunately, our Elliott Wave analysis of the decline from $363 pointed to more weakness ahead. See the chart below to refresh your memory. This chart was included in our…

Read More »

Explaining Gold ‘s Weakness With Elliott Wave Logic

Gold bulls suffered in four of the last five daily trading sessions. A week ago, on September 24th, the price of gold briefly exceeded $1535. Earlier today, it touched $1459 before recovering to $1466 as of this writing. In the meantime, global economic growth is slowing and several recession indicators are flashing red; In what…

Read More »

HollyFrontier Concluding a Bearish Elliott Wave Cycle

HollyFrontier Corp. is an independent petroleum refiner with a market cap of roughly $8.8 billion. The stock reached an all-time high of $83.28 a share in June 2018. By late-May 2019, it was barely able to hold above $37, losing nearly 55% in just one year. However, HFC recovered significantly in the last four months.…

Read More »

Staying Two Weeks Ahead of Bitcoin ‘s Crash to $8000

The price of Bitcoin has been slowly losing ground since late-June when it touched $13 880. The bulls have been relying on the support near $9000 for over two months. They no longer have that luxury. BTCUSD was still gravitating around $10 000 on September 23rd. The next day, it plunged to $7998. While the…

Read More »

Legg Mason Looks Bullish But Needs a Pullback

Legg Mason stock fell to $23.25 during the December 2018 rout, but managed to regain its footing as 2019 began. Two weeks ago, it touched $40.27 for a year-to-date gain of 73%, not counting the dividends. But stocks don’t rise in a straight line. After a big surge in a short time it is usually…

Read More »

A Bad Elliott Wave Omen for Accenture Investors

Accenture plc is the global leader in professional services. It partners with more than 3/4 of the companies in the Fortune 500 and serves 92 of the top 100. Through its five segments – Strategy, Consulting, Digital, Technology and Operations – Accenture covers the whole spectrum of business services expertise. However, despite its leading position,…

Read More »

NVR Stock Vulnerable to a 50% Elliott Wave Correction

NVR Inc. constructs and sells single-family detached homes, townhomes and condominium buildings. NVR stock is up by ~1100% since March 2009, climbing from $310 to roughly $3700 a share. Not bad for a company operating in one of the hardest hit sectors during the Financial Crisis. However, NVR stock lost 67% between July 2005 and…

Read More »

Ulta Beauty No Longer a Wall Street Darling

Ulta Beauty ‘s phenomenal uptrend started from $4.11 in March 2009 and did not stop until $368.83 in mid-July 2019. The company’s market value grew by almost 8900% in just ten years, easily earning Ulta a Wall Street darling status. Unfortunately, Wall Street likes fast-growers only as long as they keep growing. Ulta Beauty reduced…

Read More »

A Pattern + Drone Attacks Equals an Oil Price Spike

The price of WTI crude oil spiked at the open on Monday, following drone attacks on Saudi Arabian oil facilities over the weekend that practically cut the kingdom’s output in half. How long will it take for output to be restored and is the situation going to escalate from here remains to be seen. The…

Read More »