Sunday, November 29, 2015

Google through the Elliott Wave filter

A sizable pullback in google is due. The stock seems to have topped at 762.50 on 23rd November. There is still a chance of a minor move higher  773 maybe to complete smaller level counts but the bigger picture is firmly in place and calls for a significant decline below 560 within the next few months.
From the daily chart below wave red V that started in Jan 2015 is complete with a 3-3-3-3-3, 5 wave ending diagonal.  

The Monthly chart below paints the larger 5 red waves and might be open to a later reinterpretation, but the short term view is still points to a significant decline.


Monday, November 23, 2015

Alternate Elliott Wave Counts on the EURUSD

The most popular count on the EURUSD also subscribed to by major EW services is as below.


The Problem here is the red C wave that begun in May 2014 should have been 5 waves. This was all in order till the move from March 15, 2015 (1.04584) to March 27, 2015 (1.10558) which was supposed to be a 4th wave landed up extending its self into October 2015 and now is not symmetrically relevant to the whole pattern as a 4th wave. Breaking of the 1.04584 will anyway invalidate that count.
I therefore present an alternate count. An ABC with C as an ending diagonal of which 3 waves are definitely complete.

 The 4th wave is most likely complete. The 5th wave A seems complete with a B and C pending and targets somewhere between. 1.04 and .9800.