The first half of 2019 saw stock market indices around the globe rebound sharply. In the U.S., NASDAQ, DJIA and the S&P 500 are up 22.7%, 14.8% and 18.9% since the start of the year, respectively. In Europe, the German DAX and France’s CAC 40 both climbed 17.8%, UK’s FTSE 100 surged by 12% and…
Palladium Gets Interesting as it Approaches New High
Two months ago, the price of palladium was hovering around $1425 following a recovery from as low as $1325. Unfortunately for the bulls, the structure of the decline from $1615 to $1325 suggested still lower targets were plausible. The chart below, published on April 21st, visualizes the reason for our pessimism. The hourly chart of…
JPMorgan: Risk is High After 10 Years of Bull Market
Between March 2000 and March 2009, JPMorgan Chase & Co. investors saw their holdings’ value decline by almost 78% as the stock fell from over $67 to less than $15 a share. The next ten years, on the other hand, have been a wonder to behold. JPM stock rose like a phoenix from its ashes,…
Humana Stock Bulls Haven’t Lost the Battle Yet
Humana (NYSE:HUM) climbed to an all-time high of $356 in early November 2018, following a rally from as low as $18.57 in March 2009. In less than ten years, the company rewarded the patience of its investors with a total return of over 1820%, not counting dividends. Unfortunately, the last six months were nothing like…
DXY Bulls Should Worry as Bearish Evidence Abounds
The bulls have been in control of DXY during most of 2018 and gradually conquered more land in the first months of 2019, as well. The USD index recovered from its February 2018 low of 88.25 to as high as 98.33 last month. The bulls can really be proud with the total gain of over…
T Rowe Price Vulnerable After Fibonacci Encounter
Founded in 1937 and based in Baltimore, Maryland, T Rowe Price is one of the largest asset management companies in the world. At the end of Q1 2019 its assets under management stood at $1.11T. That is T for trillion. Besides, T Rowe Price is also a public company which is why it is of…
Copper Bulls Ready to Attack the $3 Mark?
A little over a months ago the price of copper was hovering above $2.92/lb., following a recovery from under $2.53/lb. For better or worse, trend-following has never been our favorite strategy. So instead of joining the bulls in anticipation of more strength ahead, we examined copper’s 2-hour price chart through the prism of the Elliott…
OLED Stock can Halve if Rejected at Fibonacci Level
Universal Display (NASDAQ:OLED) stock is hot again. The share price is up by over 90% in less than two months, climbing from under $79 to above $151 since January 3rd. But is the bulls’ optimism warranted? Six months ago, on August 15th 2018, we examined OLED stock through the prism of the Elliott Wave principle.…
Nifty 50 to Fall Below 10 000 Level Again?
It has been almost five months since our last update on the Indian Nifty 50 index. On September 25th, the benchmark was trading around 11 000, following a pullback from the all-time high of 11 760. Still, the Elliott Wave analysis below suggested it was too early to buy the dip. The daily chart of…
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.…
Boeing Stock Ready for a Final Ascent
The last time we wrote about Boeing stock was in early October 2018. In that article we shared our view that while BA was approaching the $400 a share mark, it was time for the bulls to play it safe. The Elliott Wave principle suggested that a bearish reversal can soon be expected, even if…
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…
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…
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…
Gold is a Bad Inflation Hedge. Still Watching CPI?
Similarly to crude oil, gold did not start November in the best possible way. The price of the yellow metal reached $1237.50 on the first day of the month, but was down to $1196 by November 13th. Unlike crude oil prices, however, bullion managed to reverse the negative trend and bounce up to $1230 yesterday.…
