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GBPNZD: A Bearish Elliott Wave Cycle is Worrisome

Three weeks ago, GBPNZD was hovering around 1.8900, but the Elliott Wave principle suggested the recovery from 1.8125 was “far from over.” A three-wave pullback was supposed to occur, followed by another rally towards the resistance area between 1.9250 – 1.9630. The chart below, published on January 2nd, explains. The recovery from 1.8125 looked like…

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Crude Oil Made an Elliott Wave “Push-Up” Last Week

It has been an eventful week for crude oil traders. On Wednesday, January 16th, the EIA revealed that inventories have decreased by 2.7 million barrels from the previous week. In the same time, it became clear that U.S. oil production rose to a record high of 11.9 million barrels per day. The first piece of…

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Ralph Lauren Stock Set for a 50% Gain?

Ralph Lauren, the maker of Polo, is another top apparel brand, which was left for dead during the “retail apocalypse” of 2017. In just four years between May 2013 and May 2017, the company lost over 65% in market value as the stock fell from an all-time high of $192 to as low as $66.…

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Bank of America Riding the Earnings Wave… For Now.

The last time we wrote about Bank of America was on October 18th, 2018. The stock was trading below $29 a share, down from the $33.05 top reached in March. The bank had just reported a record first quarter, but the stock price was falling nevertheless. So in order to make sense of it, we…

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Bitcoin Proves Traders Can Prepare without “Knowing”

The price of Bitcoin slightly breached the psychological level of $3500 yesterday and still has not been able to escape its gravity as of this writing. The current selloff brought back the memories of the time when BTCUSD fell to $3122 a month ago. And while in the markets everyone is an expert in retrospect,…

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Catching Crude Oil ‘s $7-Rally Amid Supply Glut Fears

Crude oil bulls got slaughtered in the last three months of 2018. Between the start of October and the end of December, the price fell by over 45% from $77.07 to $42.21, sparking fears of a new supply glut. Then, the selloff’s sudden stop caught nearly everyone by surprise. Yesterday, WTI crude oil reached $52.48.…

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NZDUSD Fibonacci Bounce Causes Optimism

At the start of December, 2018, NZDUSD almost reached 0.6970. A month later, the “flash crash” which brought chaos to many other Forex pairs, dragged the New Zealand dollar to 0.6586 on January 2nd, 2019. As of this writing, NZDUSD is hovering around 0.6760 and the bulls are probably wondering whether this is a chance…

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Gold Price Followed Its Elliott Wave Path to $1300

Gold’s third consecutive week of gains led the price of the yellow metal to the vicinity of the psychological $1300 mark earlier today. On December 14th, the price of gold fell below $1233, but according to experts, a combination of economic uncertainty, trade worries and rising interest rates sparked fear in investors, who hurried to…

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Nvidia Stock Staging a Deceptive Elliott Wave Recovery

The last three months of 2018 may have been bad for stock market investors in general, but few suffered more than NVDA shareholders. Nvidia stock climbed to an all-time high of $292.76 a share on October 2nd. By December 24th it was down to $124.50, losing over 57% in less than 90 days. So it…

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GBPNZD ‘s Elliott Wave Recovery Far from Over

A month ago we shared our view that despite being long-term bearish on GBPNZD, we thought it was time for a notable recovery. While the pair was hovering around 1.8400, the market was sending a message that a recovery to roughly 1.9000 was around the corner. As always, this message had nothing to do with…

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General Mills Stock Staging an Elliott Wave Recovery

If you think the last three months have been bad for stock market investors, think about how General Mills stock investors must be feeling. GIS has been steadily declining since mid-2016. Two and a half years ago, the share price climbed to an all-time high of $72.95. Last week it fell to $36.42, so it…

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USDJPY Crashes After Textbook Elliott Wave Setup

It is not just stock market investors and oil bulls, who have been suffering lately. The holidays do not promise to be very happy for USDJPY bulls, as well. The pair fell to 110.81 on Thursday, revisiting levels last seen in early September. The Fed rate hike, the stock market crash and the tensions between…

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A Special Letter about the State of the Stock Market

Dear Fellow Elliotticians Most major stock markets have been in a bull market for almost a decade. Unfortunately, after last week’s selloff it is now evident that this bull market is over. The S&P 500 is down 17.8% from its all-time high reached three months ago, despite a still strong economy and relatively low interest…

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Moody’s Stock to Give Investors a Chance to Evacuate

The stock market at large is crashing and even stocks owned by superinvestors like Warren Buffett are not immune to sharp selloffs. One such stock is Moody’s. As of September 30th, Berkshire Hathaway owns approximately 24 670 000 Moody’s shares, making it the 8th largest position in the portfolio. Moody’s reached an all-time high of…

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FedEx Stock is in Free Fall. Is There a Bottom?

FedEx stock is plunging sharply after the company slashed profit targets and announced broad cost-cutting measures. The share price is down almost 41% from its all-time high of $273.66 reached in January, when everything looked so rosy. What happened? Many experts would argue that the market finally realized that FedEx is not what it once…

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