"All human activities have three distinctive features: pattern, time and ratio - all of which observe the Fibonacci Summation Series" (R.N. Elliott - "Nature's Law - the Secret of the Universe" - 1946)

Saturday, August 17, 2013

Elliott Wave Analysis of several Stock Market Indexes

Elliott Wave Analysis of DJIA, DAX, FTSE, FTSEMIB, SMI, NIKKEI.

For previous outlook and long term view on weekly charts,
see post of July 27, 2013

Preferred count: wave 2 of c minor of (y) intermediate is ending.
First alternate scenario: Alt:5 of Alt:(c)

Preferred scenario: wave a of wave (z)
the first alternate (1°Alt:) considers the top like the Cycle Top D .
the second alternate (2°Alt:) corresponds to the alternative and super bullish long-term scenario shown in weekly chart; we would be in Alt:(3) of Alt:[1] of Alt:I


this is the only stock market where my preferred long-term Outlook is bearish (not very convinced, but bearish) but the last upward wave could also be an impulsive pattern.

First alternate; we are in the wave Alt:2 of Alt:(3) so the Top is still far.



Preferred scenario; still in uptrend of Primary degree; we should be in wave c of wave (4) intermediate;
The Alternate scenarios is more complex.



This is one of the weaker stock market in Eurozone but in the last month one of the most bullish.
Preferred scenario: we should be in wave a of intermediate wave (y) of upward wave [C]/[Y] of Primary degree (for daily updates on intraday charts see my Italian blog  http://ChartPatternsTraders.blogspot.it)


Preferred count:  we are in wave c of minor wave 4  of (c) intermediate;
Alternate count: we are in a new bearish wave of Primary degree.

Have a great weekend ;-) !


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