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he S&P 500 index is very close to the trendline of the rising channel that it broke earlier along with the upper band and 66% retracement mark all together near 5700. The rise is three waves so far and if we top out near this resistance range then it was an X wave.

01:07

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A pause before the next leap higher is what the pattern suggests. IVth waves are time corrections more than price corrections and test your patience

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Aluminium prices are forming an ascending triangle pattern where resistance is along a horizontal line but we continue to make higher lows. The breakout point is at 2725. We should be looking at a substantial and sustainable move in the metal in the weeks or months ahead

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INDUSIND bank fell hard and quickly exceeded the point where C=A. It also touched the longer term channel line near 650. Time will tell if this channel holds out as a good support.

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A new high in Kotak bank after it broke out of the previous trading range.

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RIL can look like an expanding triangle - triangles are five wave structures that are usually marked as a-b-c-d-e. Triangles can be trend continuation and trend reversal patterns.

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An expanded flat is an ABC pattern where wave B is three waves and wave C can be 1.618 times A. But in this example, wave C is much larger. Even then I have tried to mark the weekly chart as ABC expanded flat because of the internal wave structure in 3-3-5

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Elliott wave counts are on Nalco's monthly chart. Try to understand the long-term trend

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Bank nifty in wave Z means that this is the last dip till proven otherwise. So far wave z appears like a ED or a triple zig-zag in formation. Till it breaks out of this pattern and pushes the daily RMI to a buy signal we are waiting for it to confirm the end of Z and start of a new up trend.

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The completion of five waves up is also confirmed by the start of a five wave decline as is clearly visible on the hourly chart of USDINR - an ABC back up is the only thing that follows a five wave decline. The decline itself indicates a downtrend

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A truncated wave C is a situation where C=A was not achieved. At least C=61.8% of A so we are good enough. That the recent fall in Mid and Smallcap stocks was unable to get the Nifty bears to break a potential H&S structure is noteworthy. So, with many short-term and medium-term sentiment indicators near oversold extremes, it might be time to think about bounces...

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The S&P 500 closed down last night after what looks like a three-day bounce that ended an a-b-c bounce back. Three waves up after five waves down sets us up for the next five waves down in wave 3. Wave 3 should take us back below the Wave 1 low of 5832

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Steepening cycles in the US yield curve have preceded stock market crashes in the past, and so far, this time is no different. As measured by the difference between the 10-year bond yield and the 2-year bond yield, the yield curve is now rising and made a higher high last night. The continued trend is toward a risk-off by investors out of equities into the safety...

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After going back to the 2021 highs Russell 2000 is selling off. The entire pattern appears like a expanding triangle. We can go back to test the lower line of the expanding pattern if this is a massive topping process

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Ahead of the FOMC meeting, the dollar index shows no signs of relenting; it is holding above the 20dma and subdividing into waves i and ii of 3 as a third wave is just starting. The idea that the FED will lower rates does not seem to matter to the Dollar.

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The DJI is falling right into the FED meeting will it recover in the aftermath. Prices are close to the lower band that can act as the final support. Is this wave i of a bear market? Lots of questions.

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As Bollinger bands tighten and momentum comes closer to zero the odds of more upside get limited even as the bias is still positive short term and negative medium term

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After today's weak GDP print the Indian 10 year GSEC yields fell sharply in anticipation of rate cuts from the RBI, and this saw the rupee weaken as well in after trade. Does this mean that the RBI is going to cut interest rates at the up coming rate setting meeting? It is a tight rope walk but who knows they went neutral last time and might as well toe the line.