Ewj: elliott wave

[mu200411]

NASDAQ is under the influence of a large "W" pattern since the year 2000 which is almost complete.
This may be Cycle A-B part of a 16-year Flat Correction of Super-cycle Degree Wave IV).
Robert Prechter counted 1966-1982 as a 16-year complex correction.
Intermediate Wave5) may be an Ascending Triangle or Ending Diagonal.

 

[mu200411]

SPX new high can be part of an Expanding Triangle like in the year 1973.
The peak was in March. Note the 3-3-3-3-3 pattern.
SPX is at 261.8% Fibonacci Advancement.
Wave 5) may be an Ascending Triangle or Ending Diagonal.

 

[mu200411]

INDU 2000-2016 wave may be like INDU 1966-1974 Expanding Triangle.
Note a Flat top like current SPX triangle.
INDU is just above Expanding Triangle upper borderline.
Wave IV]IV)Dc]5) may be an Ascending Triangle or Ending Diagonal.

 

[mu200411]

USD/JPY rebounded.
Target may be 126.5.
If Wave 3] = Wave 1] target may be 130.

USD/JPY made a Triangular Correction then headed UP.
Targets may be 126.5 and 134.
Note: "W" pattern.

 

[mu200411]

USD/JPY made a Triangular Correction then headed UP.
Targets may be 126.5 and 134.
Note: "W" pattern.

USD/JPY broke previous top at 121.850 and went up to 122.025.
This may be Wave 3]3)5.3.
Wave 3]3)5.5 might end near measured moves at 124, 127.5 or 129.3.

 

[mu200411]

The wave passed the 94 target to end at 95.48 .
The set back to 93.25 is small, may be count as Wave 5)4.
Wave 3]5)5 can go UP to 99 or 102.
$USD is currently under the influence of 14-year "W" pattern.
"W" pattern target may be 108 and 113.
Note: 95.48 is near 50% Fibonacci Retracement.
: 102 is near 61.8% Fibonacci Retracement.

$USD passed 99 target and moved on to 100.06.
This may be Wave 3]5)5.3.
After Wave .4 ends, Wave 3]5)5.5 may reached 61.8% Fibonacci Retracement target at 102.

 

[mu200411]

EUR/USD rebounded from 1.109 to 1.153 may be Wave III3]3)4 or Wave III3]4).
Wave III3]3)5 may go DOWN to 1.097 after a rebound to 1.124.
Wave III3]5) can go DOWN to 1.020.

EUR/USD took a dive to 1.049. This may be Wave .3 .
After Wave III3]3)5.4 ends,
Wave III3]3)5 or Wave III3]5) can go DOWN to 1.020.

 

[mu200411]

Crude Oil stays above long term support.
If this is Wave 3)5.4 the target may be $60.
If this is Wave V]IV)C4] the target may be $77.

Crude Oil didn't go up as expected but fell to $44.75 near previous low.
If this is a Flat Correction, Crude Oil may return to $54.24 as Wave 3)4.c .
Wave V]IV)C3]5) can go DOWN to $37 or $31.

 

[mu200411]

UTIL Triple Zigzag V]IV)B might have ended at 657.17 so a 13.6% fall to 567.55.
The rise from 2009 to 2014 can be counted as 5 waves though wave 3 is somewhat atypical.
Correct of this 5 waves may end near wave 4 at 467.93 or a 27.27% correction.
Supports are at 555.71 and 524.82.

Interest sensitive UTIL leads the way DOWN.

 

[mu200411]

NASDAQ is under the influence of a large "W" pattern since the year 2000 which is almost complete.
This may be Cycle A-B part of a 16-year Flat Correction of Super-cycle Degree Wave IV).
Robert Prechter counted 1966-1982 as a 16-year complex correction.
Intermediate Wave5) may be an Ascending Triangle or Ending Diagonal.

NASDAQ: One or No more last push to new high around 5,200.