ASX: WOOLWORTHS GROUP LIMITED – WOW Elliott Elliott Wave Technical Analysis TradingLoungeGreetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with WOOLWORTHS GROUP LIMITED – WOW. We see WOW is probably about to enter a Bull Market phase with wave ((iiii))-navy of wave 3-grey.ASX: WOOLWORTHS GROUP LIMITED – WOW 1D Chart (Semilog Scale) AnalysisFunction: Major trend (Intermediate degree, orange) Mode: Motive Structure: Impulse Position: Wave ((ii))-navy of Wave (3)-orange. Details: Wave ((i))-navy has just ended, and wave ((ii))-navy seems to be unfolding to push lower, aiming at targets a...
Bullish view Buy the BTC/USD pair and set a take-profit at 65,000. Add a stop-loss at 56,425. Timeline: 1-2 days. Bearish view Set a sell-stop at 59,000 and a take-profit at 56,425. Add a stop-loss at 63,000. Bitcoin continued to consolidate around the $60,000 level as traders waited for the upcoming Federal Reserve interest rate decision. The BTC/USD pair was trading at 59,700 on Monday morning, much higher than this month’s low of 52,510.Bitcoin’s price action happened as investors focused on the ongoing easing of monetary policy by global central bank. The European Central Bank (ECB) slashed interest rates for the second time las...
GBP/JPY extends its decline for the second successive day, trading around 184.20 during Monday’s European hours. The Japanese Yen (JPY) finds support despite low trading volumes due to Japan’s Respect-for-the-Aged Day Bank Holiday. This downside pressure on GBP/JPY cross is likely driven by the hawkish sentiment surrounding the BoJ.Traders await interest rate decisions from the Bank of England (BoE) and the Bank of Japan (BoJ) later this week. The BoJ is widely expected to keep rates unchanged while leaving the possibility open for a rate hike as early as October. Similarly, the BoE is also expected to hold rates steady in its upc...
EUR/USD is showing signs of strengthening, currently trading around 1.1088 on Monday. The pair saw significant gains at the end of last week, driven by mounting speculation over the Federal Reserve’s upcoming interest rate decision. The US dollar weakened in response to increasing expectations that the Fed might cut rates by 50 basis points in its forthcoming meeting.The shift in market sentiment has been substantial, with the probability of a 50 basis point cut now at 45%, up from just 20% a week earlier. This anticipation has led to a decrease in US Treasury bond yields, further affecting the dollar’s strength. Additionally, US ...
We have a very important week ahead, with the much-anticipated interest rate decision from the Fed. The focus is not just on whether they will cut rates, but by how much—will it be 25 or 50 basis points? A 25 basis point cut could strike a balance between inflation concerns and potential recession fears, especially considering recent unemployment figures weren’t that bad, and CPI also softened as expected last week. Keep in mind that the dollar has moved lower over the last few weeks, and if we see a 25 basis point cut, the dollar could gain slightly. However, if the Fed opts for a 50 basis point cut, we expect the dollar to continue its ...
USDCAD Elliott Wave Analysis Trading Lounge Day Chart, U.S. Dollar / Canadian Dollar (USDCAD) Day ChartUSDCAD Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Gray Wave 3 Direction Next Lower Degrees: Gray Wave 3 (started) Details: Gray wave 2 appears completed, with gray wave 3 now in progress. Wave Cancel Invalid Level: 1.39456 The daily chart analysis of USDCAD using Elliott Wave Theory shows that the market is currently in an impulsive trend mode, indicating strong price action. The wave structure currently being tracked is gray wave 3, part of an impulsive wave sequence often observed during market trends...
Image Source: PixabayUS equities have outperformed the rest of the world for a long time now. Over the past decade, the US, proxied by the S&P 500 ETF (SPY), has returned 228% compared to a 48% total return for the rest of the world as measured by the MSCI All World Ex. US ETF (ACWX). On a relative basis, US outperformance has been nearly uninterrupted over this period.Below is a look at the performance of the US versus the rest of the world since the current bull market for global equities began on 10/12/22. In this chart, we include the S&P 500 ETF, another All World Ex. US ETF (CWI), and the Invesco International Dividend Achie...
Some BackgroundThe stocks of Microsoft, Google, Meta, Apple, Amazon and Nvidia, each with market capitalizations in excess of $1 trillion (i.e. mega caps), were down 4.96% the week ending Sept. 6th after the August ISM manufacturing index raised fears about the strength of the economy and increased chances that the Fed would cut interest rates. The fear subsided during the w/e Sept. 13 ,with all constituents in our AI Mega-Cap Portfolio moving into positive territory, as follows:Our AI Mega-Cap PortfolioBelow are the stock performances last week (w/e Sept. 13th), in descending order, as compared to the previous week (w/e Sept. 6th), the last...
A ‘September to remember’ persists. Skepticism of the rally predominates; as well as our own view that S&P might retreat ‘after’ the Fed cuts rates; even if it’s 50 basis points instead of just the minimal 25 basis points.Either way isn’t a negative aside daily perceptions perhaps; while leadership in this market is stretched. The Fed easing (and beginning that trend) is a plus for many aspects of the economy, aside bonds perhaps, and equities solely to the extent it’s already priced into the market by virtue of this pre-Fed-cut rally.So that’s what makes a ‘September to Remember’...