Elliott Wave technical analysis with trading signals

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Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA by Igor Tereshchenkov

 

SPX

 

Globally, nothing has changed since the update, which I made on June, 2. But the market has not added clarity. Now I recommend monitoring the red channel and its breakdown. In which direction we will leave it, in that option we will probably go. In addition, now the price is near the extreme guideline for correction to the downward movement. So, if it falls, then plus or minus from here.
In other words, the initials are developing in one of the sides, but at the current stage of the development of the price movement, it is impossible to determine which one exactly. Indirect factors (sentiment, structure) hint at a downward option.
SPX Elliott Wave analysis

 

 

 
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DJIA

A completely similar SPX situation, only here there is one more couple of initials. Nothing has been changed in the view from the last week.

 

DJIA trading analysis

 

NASDAQ

The ending diagonal on hour’s TF decided to issue another unit up. But, in any case, it must not break the level indicated in red on the chart up. This level can be used as a stop on the short.

 

WTI OIL

All week I’ve been trying to increase the short on oil per initials in the wave “A” of (B). Now I did it again with a stop at 70 cents of the price. If now the price does not go much down, then we have a pink wave [v] in development. Accordingly, we will take the short from the area of ​​42 dollars with a stop at the red level from the chart. I don’t see any options to get along – the upside potential is minimal.

GOLD

No change from last week’s update. Now, most likely, a wave [5] of “c” of (v) of [c] of “Y” of (B) is forming in the form of an ending diagonal in which wave (5) is forming. Based on this hypothesis, I will take a short one. The stop is very small relative to the take profit. Let me remind you that in contracting diagonals, fifth waves are always less than third in price.

 

 

 
 
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Analysis by Igor Tereshchenkov @EightyNineWaves

 

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