Elliottwave-Forecast

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Feb 17, 2017
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IBM, founded in 1911, is a global technology leader known for pioneering innovations in computing. From tabulating machines to AI and quantum computing, IBM has consistently shaped the tech landscape, providing cutting-edge solutions for businesses worldwide. IBM stock is listed on the New York Stock Exchange NYSE. In this blog post, let's do the IBM Elliott wave analysis. This can help us understand the long-term and near-term dynamics of this stock.

The IBM stock fell together with the US stock markets and has thus shed over 16% between 03.12.24 and 05.03.24. However, there is barely a 2% net gain in 2024 as almost all of the profits are now gone. How soon can a real recovery begin or how deeper can the sell-off go? This blog post seeks to answer that from our Elliott wave perspective. Let’s start the analysis from the monthly chart.

IBM Elliott Wave Analysis - Monthly Chart. May 2024IBM Elliott wave analysis

On the monthly chart, we could capture the price history of IBM since 1970. Between that time, when the stock was barely exchanged for $16, and March 2013 when it reached its all-time high at just over $206, the chart completed a 5-wave impulse sequence. Notably, the impulse wave was of the grand supercycle degree. What followed afterward was a sell-off that lasted 7 years. The 7-year corrective bearish cycle ended in 2020 at $86.5 to complete wave (II) of the grand super cycle degree.

Since then and four years later, the stock rallied close to an all-time high as part of wave I of (I) of ((III)). The current pullback from March should be the wave ((4)) of I. The implication of this is that once wave ((4)) completes, there should be a recovery for ((5)) before a bigger pullback for II begins. However, wave ((4)), after completion, must be contained above 153.2 wave ((1)) high.

IBM Elliott Wave Analysis - Monthly Chart - Alternate Outlook. May 2024

IBM Elliott wave analysis

However, alternatively, if wave ((II)) grand supercycle degree has not ended, the current decline should continue as wave (c) of ((II)). This could last for several years. This is one scenario to take note of. However, we will go with the first scenario because the bullish cycle in the US stock markets is not over yet.

IBM Elliott Wave Analysis - H4 Chart. May 2024.

IBM elliott wave analysis

The 4-hour chart shows that wave ((4)) has been completed with a double zigzag structure at the extreme. Price has bounced as a result. A bullish impulse should emerge as the price separates from the blue box. Alternatively, if the bounce completes a corrective 3,7 or 11 swings instead of an impulse, there is the possibility of it returning lower to complete a lower ((4)). However, that increases the risk of invalidating the primary degree impulse as ((4)) can cross below 153.32. If that's the case, we may have to adopt the alternative scenario.

Source: https://elliottwave-forecast.com/stock-market/ibm-elliott-wave-analysis-unraveling-recovery-ahead/
 

Elliottwave-Forecast

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Feb 17, 2017
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Short Term Elliott Wave in AUDUSD suggests the pullback to 0.636 ended wave (2). The pair has turned higher in wave (3) with internal subdivision in 5 waves in lesser degree. Up from wave (2), wave (i) ended at 0.6432 and pullback in wave (ii) ended at 0.6407. The pair then extended higher in wave (iii) towards 0.655 and dips in wave (iv) ended at 0.6516. Final leg wave (v) higher ended at 0.6586 and this completed wave ((i)). Pullback in wave ((ii)) ended at 0.6464.

Up from there, wave (i) ended at 0.654 and pullback in wave (ii) ended at 0.65. Pair resumed higher in wave (iii) towards 0.6647 and dips in wave (iv) ended at 0.662. Pair then extended higher 1 more leg in wave (v) to 0.6649 which completed wave ((iii)). Pullback in wave ((iv)) unfolded as a zigzag Elliott Wave structure. Down from wave ((iii)), wave (a) ended at 0.66 and wave (b) rally ended at 0.6644. Pair then extended lower in wave (c) towards 0.6657 which completed wave ((iv)). Near term, as far as pivot on 4.19.2024 low at 0.636 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

AUDUSD 60 Minutes Elliott Wave Chart​

AUDUSD Elliott Wave Chart

Source: https://elliottwave-forecast.com/news/elliott-wave-expects-audusd-break-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Greetings fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of EURUSD, published in members area of the website. As our members know, EURUSD has ended the cycle from the December's 2023 peak. The pair has recently pulled back in a 3-wave pattern, with buyers stepping in right at the equal legs zone. Let’s break down our Elliott Wave forecast further in this article.

EURUSD H1 Asia Update 05.09.2024​

The current view suggests that the EURUSD pair is doing a ((iv)) pullback, which is correcting the cycle from the 1.0648 low. This pullback still looks incomplete at the moment. We expect to see another leg down toward equal legs area : 1.07324-1.07182. We expect potential buyers to appear in this area, which could lead to a further rally towards new high or a three-wave bounce at least.

Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

EURUSD

EURUSD H1 London Update 05.10.2024​

EURUSD has made a nice bounce from the Equal Legs-Buyers zone, as anticipated. We consider the wave ((iv)) pullback completed at the 1.0725 low. Confirmation of the next leg up will come with a break of the ((iii)) black peak. We advise against selling the pair during any suggested pullback and favor the long side.

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.

EURUSD

Source: https://elliottwave-forecast.com/forex/eurusd-elliott-wave-raly-equal-legs/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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The Uranium ETF (URA) is an exchange-traded fund that aims to track the performance of companies involved in the uranium mining industry. It provides investors with exposure to the global uranium sector, including companies engaged in uranium mining, exploration, and production. URA offers a convenient way for investors to gain diversified exposure to uranium without directly owning physical assets or individual stocks. Below we will look at the long term Elliott Wave outlook for this ETF.

$URA Elliott Wave Chart Monthly Chart​

Monthly Elliott Wave Chart of Uranium ETF (ETF) shows that the ETF ended wave ((II)) Grand Super Cycle at 6.95. From there, the ETF has started a new wave ((III)) higher with internal subdivision as an impulse. Up from wave ((II)), wave I ended at 31.6 and pullback in wave II ended at 17.65. The ETF has extended higher and broken above wave I, suggesting the next leg wave III higher has started. Expect the ETF to continue higher in months and years to come while it stays above wave II low at 17.65, and more importantly above wave ((III)) at 6.95.

$URA Daily Elliott Wave Chart​

$URA Elliott Wave Chart

Daily Elliott Wave Chart of $URA above shows wave (2) pullback completed at 18.81. Up from there, wave (3) ended at $32.6 with internal subdivision as an impulse. Pullback in wave (4) ended at $26.77 as a zigzag. Down from wave (3), wave A ended at $26.83 and wave B ended at $29.46. Wave C lower ended at $26.77 which completed wave (4). The ETF has turned higher in wave (5). Up from wave (4), wave ((i)) ended at $31.5 and wave ((ii)) ended at $28. Expect the ETF to extend higher as far as pullback stays above wave (4) at $26.77, and more importantly above wave (2) at $18.81.

Source: https://elliottwave-forecast.com/stock-market/uranium-miners-etf-ura-extends-impulsive-rally/
 

Elliottwave-Forecast

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Feb 17, 2017
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Home Depot (HD), is an American multinational home improvement retail corporation that sells tools, construction products, appliances, and services, including fuel and transportation rentals. Home Depot is the largest home improvement retailer in the United States.

After reaching all-time highs in December 2021, the price of HD fell considerably. According to the Elliott Wave Principle, the stock price should continue to fall after to end wave (b) pullback. Wave (b) entered in a double or a flat correction and we are going to talk about next.

Home Depot HD Monthly Chart January 2024​

Home Depot HD Monthly Chart January 2024

Since December 2021 high, the price of HD has remained bearish and to complete a corrective structure it should continue with more decline. This is because, to finish a corrective structure is required a minimum of 3 waves where the third wave must break the end of the first wave at least marginally. Suggesting further drops in HD price in wave (c). Last time after ending wave (a) lower, we called more upside to end wave (b) correction because it enters in a incomplete bullish sequence. Wave (b) needed to end a new structure before resuming to the downside from 357.52 - 409.08 blue box area.

Home Depot HD Monthly Chart May 2024​

Home Depot HD Monthly Chart May 2024

After 4 months, HD entered to the blue box area and in March 21 the stock ended wave (b) at 396.87 high. The market had a strong reaction lower from the blue box and wave I lower was completed at 326.90 in April 25. As we see in the chart, we still need more downside to complete an impulse as wave (c) and the whole correction as wave ((II)). Once the correction is finished, the stock should continue to the upside.

Home Depot HD Daily Chart January 2024​

Home Depot HD Daily Chart January 2024

In Daily chart, we watched closer what was happening with HD price. As 347.25 high was broken, the stock entered in a double correction structure. From wave (a) low, market made 3 swings higher ending wave "w" at 347.25 high. Then, we had 3 swings lower as a zig zag correction to end wave "x" at 274.20 low. As price action stays above 274.20 low, we expected to see 3 swings more to the upside to finish wave "y" of ((b)) before turning lower in wave (c).

Home Depot HD Daily Chart May 2024​

Home Depot HD Daily Chart May 2024

As we can see in the chart, last time we called a double correction structure wxy as wave (b). However, the rally from wave b low was an impulse structure. Therefore, the wave (b) correction was just a flat correction abc with a 3-3-5 structure. We saw a nice rejection lower from wave (b) high ending wave I at 326.90 low. Currently, we are expecting a double correction higher as wave II before resuming to the downside. The view is valid as price action stays below 396.87 high.

Source: https://elliottwave-forecast.com/stock-market/home-depot-hd-reacted-blue-box-downside/
 

Elliottwave-Forecast

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Feb 17, 2017
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In this technical article we’re going to take a quick look at the Elliott Wave charts of Copper Futures HG_F, published in members area of the website. As our members know, Copper is showing impulsive bullish sequences in the cycle from the 3.6592 low. Consequently we are favoring the long positions at this stage. The commodity has recently given us a 3-wave pattern, when buyers appeared right at the equal legs zone. We are going to explain Elliott Wave forecast further in this article.

Copper H1 Asia Update 05.08.2024​

The current view suggests that the Copper commodity is doing a ((ii)) black pullback, which is correcting the cycle from the 4.4671 low. So far pullback has given us 5 waves from the peak, suggesting structure is still incomplete. We expect to see another leg down toward equal legs : 4.5408-4.4925 ( buying area). Once extreme zone is reached , we expect potential buyers to appear in that area, which could lead to a further rally towards new high or a three-wave bounce at least.

Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

Copper

Copper H1 Midday Update 05.10.2024​

The commodity made another leg down as we expected. The price has reached the extreme zone at 4.5408-4.4925 area and made a nice rally from the Equal Legs-Buyers zone, as anticipated.The commodity remains bullish against the 4.4652 pivot. We expect Copper to keep finding buyers in 3,7,11 swings as far as the mentioned pivot holds.

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.

Copper

Source: https://elliottwave-forecast.com/commodities/copper-hg_f-elliott-wave-equal-legs/
 

Elliottwave-Forecast

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Feb 17, 2017
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Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of NVIDIA Corp ($NVDA) . The rally from 5.02.2024 low at $812.70 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below:

7 Swings WXY correction​

$BAC

$NVDA 1H Elliott Wave Chart 5.9.2024:​

$NVDAHere is the 1H Elliott Wave count from 5.09.2024. We expected the pullback to find buyers at the blue box area at 885.16 – 865.25 in 7 swings.

$NVDA 1H Elliott Wave Chart 5.12.2024:​

$NVDAHere is the latest 1H update from 5.12.2024 showing the bounce taking place as expected. The stock has reacted higher from the blue box area allowing longs to get risk free. The stock is expected to either trade lower in a bigger double correction or remain supported with a target area towards $932 – 947 before another pullback can happen.
Source: https://elliottwave-forecast.com/stock-market/nvidia-corp-nvda-reacted-blue-box-area-expected/
 

Elliottwave-Forecast

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Feb 17, 2017
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In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of BAC. We presented to members at the elliottwave-forecast. In which, the rally from 16 April 2024 low unfolded as an impulse structure. Showing a higher high sequence in higher time frame favored more upside extension to take place. Therefore, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

BAC 1-Hour Elliott Wave Chart From 4.28.2024​

BAC Made New Highs From Elliott Wave Blue Box Area

Here’s the 1-hour Elliott wave chart from the 3/11/2024 Pre-Market update. In which, the short-term cycle from the 4/16/2024 low ended in wave (1) at $38.49 high. Down from there, the stock made a pullback in wave (2) to correct that cycle. The internals of that pullback unfolded as Elliott wave double three structure where wave W ended at $37.38 low. Wave X bounce ended at $38.31 high and wave Y managed to reach the blue box area at $37.19- $36.49. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

BAC Latest 1-Hour Elliott Wave Chart From 5.13.2024​

BAC Made New Highs From Elliott Wave Blue Box Area

This is the latest 1-hour Elliott wave Chart from the 5/13/2024 Midday update. In which the stock is showing a reaction higher taking place, right after ending the zigzag correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. Since then, the stock has already made a new high above $38.49 high confirming the next extension higher. Also, it's important to note that with further data the pullback was adjusted to zigzag correction.

Source: https://elliottwave-forecast.com/stock-market/bac-made-new-highs-blue-box-area/
 

Elliottwave-Forecast

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Feb 17, 2017
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Greetings, traders! In this Apple Elliott Wave Analysis, we'll delve into our application of the Elliott wave theory once again. We will recall our forecast of a near-term low for Apple stock just before the significant surge occurred. Our analysis revealed that Apple stock underwent a bearish impulse cycle from December 14, 2023, to January 19, 2024. Afterward, it initiated a recovery phase. We anticipated this recovery to manifest either as an A-B-C or a W-X-Y corrective structure before the resumption of the bearish cycle from December 14, 2023, ensued, outlining our medium-term forecast for the stock.

Apple Elliott Wave Analysis - 05.01.2024Apple Elliott Wave Analysis

To ensure our members remain abreast of the market dynamics following the January 19, 2024, low, we provided our routine four-times-a-day 1-hour updates along with an end-of-day H4 update on AAPL and the 77 other instruments within our coverage. On May 1, 2024, during the midday New York update, we shared the chart above. This update illustrated the anticipated bearish impulse, denoted as wave ((A)). Price is reacting accordingly with an impulse - minor degree wave 1 of (A) of ((B)).

Subsequently, a wave 2 retracement followed, which we identified as completed. Afterward, wave 3 commenced with its initial sub-wave - wave ((i)). Based on all these, we projected the near-term trajectory for Apple Stock Elliott Wave Analysis to be bullish. This will be true as long as the 164.05 low remained intact. Consequently, we anticipated buyers to enter the market upon the conclusion of wave ((ii)). Thereafter, wave 3 should propel above the previous wave 1 high from April 29, 2024.

Elliott Wave Analysis Apple Stock Forecast - 05.13.2024Apple elliott wave analysis

The update shared with members on May 13, 2024, highlighted how the price rallied since May 1, 2024. Subsequently, wave 3 was completed at the high of May 3, 2024, followed by a dip in wave 4. Wave 4 is completed and the price is already reacting upwards for wave 5. Thus, the outlook for Apple Stock Elliott Wave Analysis remains favorable for buyers.

Source: https://elliottwave-forecast.com/stock-market/apple-elliott-wave-analysis-expects-legs-higher/
 

Elliottwave-Forecast

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Short Term Elliott Wave in DAX suggests that the Index ended wave (4) pullback at 17626.54. From there, it rallies higher in wave (5) as a nesting impulse Elliott Wave structure. Up from wave (4), wave ((i)) ended at 18226.32 and dips in wave ((ii)) ended at 17795.96. The Index then nested higher within wave ((iii)). Up from wave ((ii)), wave (i) ended at 18235.80 and pullback in wave (ii) ended at 17875.98. Wave (iii) higher ended at 18845.86 and wave (iv) pullback is proposed complete at 18706.08.

Expect the Index to rally higher in wave (v) to complete wave ((iii)). Potential target for wave (v) is 123.6 - 161.8% external retracement of wave (iv). This area comes at 18877 - 18930. Afterwards, it should pullback in wave ((iv)) to correct cycle from 4.25.2024 low before another high again in wave ((v)) to end wave 1. Then it should do a larger degree correction in wave 2 to correct cycle from 4.19.2024 low before it resumes higher. Near term, as far as pivot at 17626.54 low stays intact, expect any pullback to find support in 3, 7, 11 swing for further upside.

DAX 60 Minutes Elliott Wave Chart​

Source: https://elliottwave-forecast.com/news/elliott-wave-intraday-dax-shows-incomplete-bullish-sequence/
 

Elliottwave-Forecast

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Feb 17, 2017
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XPO INC., (XPO) provides freight transportation services in United States, rest of North America, Europe, UK & internationally. It operates in two segments, North American LTL & European Transportation & offers services to different industries. It is based in Greenwich, CT, comes under “Industrials” sector & trades as “XPO” ticker at NYSE.

XPO reacted higher in ((3)) in Elliott Wave impulse sequence as expected from the previous article. It proposed ended ((4)) at $103.71 low as extreme areas & should extend higher in ((5)) of III towards $136.95 or higher levels.

XPO - Elliott Wave View From 2.12.2024:

In weekly sequence, it placed ((II)) at $13.30 low in March-2020 & II of (I) at $24.75 low in September-2022. Above there, it favors upside in III of (I) & expect one more push higher in ((5)) before correcting in IV. Within III, it placed ((1)) at $80.42 high, ((2)) at $65.80 low & ((3)) at $130.51 high. Below there, it favored ended ((4)) at $103.71 low as double correction as 0.382 Fibonacci retracement of ((3)). In ((4)) pullback, it ended (W) at $112.55 low, (X) at $122.67 high & (Y) at $103.71 low.

XPO - Elliott Wave Latest Daily View:

Above ((4)) low from blue box area, it appears ended (1) of ((5)) at $122.54 high as 3 swing bounce. It favors corrective pullback in (2), which should stay above $103.71 low before resume higher in (3). It expects ((5)) to unfold as diagonal sequence & extend towards $136.82 - $147.08 area to finish III, which confirm above ((3)) high. Alternatively, if it breaks below $103.71 low, it will extend ((4)) correction before turning higher in ((5)). We like to buy the pullback in 3, 7 or 11 swings at extreme areas, when reached.

XPO - Elliott Wave Latest Weekly View:

Source: https://elliottwave-forecast.com/stock-market/xpo-continue-bullish-rally/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of Dollar Index, published in members area of the website. As our members know, USDX has ended the cycle from the December’s 2023 low. The index has recently given us bounce in a 3-wave pattern, when sellers appeared right at the equal legs zone. Let’s break down our Elliott Wave forecast further in this article.

USDX H1 Asia Update 05.08.2024​

The current view suggests that Dollar Index is doing a ((iv)) recovery, which is correcting the cycle from the 106.48 peak. Proposed recovery can be unfolding as a Elliott Wave Zig Zag Pattern .The price is reaching important technical area at 105.46-105.86. We expect potential sellers to appear in this area, which could lead to a further decline towards new lows or a three-wave pull back at least.

Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

USDX

USDX H1 Asia Update 05.14.2024​

USDX has found sellers as expected and made a nice bounce from the Equal Legs zone. We consider the wave ((iv)) correction completed at the 105.759 high. CWe would like to see break of previous ((iii)) black low as confirmation wave ((v)) is in progress. We advise against buying Dollar in during any suggested bounce and favor the short side.

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.



Source: https://elliottwave-forecast.com/forex/usdx-elliott-wave-decline-equal-legs/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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www.elliottwave-forecast.com
Hello traders. In this blog post, we will look at how GBPCAD advances bullish sequence from late 2023 after it bounced from an equal leg area. As you know, we analyze and trade 78 instruments with members at ElliottWave-Forecast. These 78 instruments are grouped into three categories. This currency pair is in group 2 along with 25 other instruments spread across four asset classes, including Cryptocurrencies, Forex, Indices, and Commodities.

How GBPCAD advances bullish sequence - 05.09.2024 Update

GBPCAD advances bullish sequence

GBPCAD, as our members know, has been in a bullish diagonal sequence since October 2023. This diagonal was expected to complete the primary degree wave ((1)). Wave (4) of ((1)) was completed on 22nd April 2024 at 1.6888. Following wave (4), wave (5) of ((1)) quickly rallied and completed its first leg, wave W. Afterwards, wave X emerged from the 30th April high to form a double zigzag structure. We shared the chart above with members on 9th May 2024, identifying the 1.7080-to-1.7000 equal legs area is crucial for wave X completion.

How GBPCAD advances bullish sequence - 05.14.2024 Update



Just as expected, wave X of (5) found support at the equal leg of 1.7080 and bounced quickly. The chart above was part of the 14th May New York update we shared with members. The chart shows the price separating from the equal leg with an impulse for (i). Going forward, we expect the price to breach the top of wave (i) thus paving the way for wave (iii) of ((a)) of Y. This would give the pair a chance to break wave W high and get wave Y properly underway.

However, we always take note of the alternatives. If the current dip for (ii) extends lower below X, then we will have to determine a new extreme for wave X where buyers will look for new LONG positions in anticipation of Y. Ideally, we would like to see the wave W high breached and then look for LONG positions after the next pullback completes 3, 7, or 11 swings in the extreme area.

Members receive hourly updates four times a day and can use our forecasts as guides for their trading strategies. On each chart, we indicate the trading direction to consider. In the live trading room, members have access to trade signals and trade management guides. In addition, members can chat with our analysts 24 hours from Monday to Friday.

Source: https://elliottwave-forecast.com/stock-market/gbpcad-advances-bullish-sequence/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Short Term Elliott Wave in Bank of America (BAC) shows incomplete bullish sequence from 4.16.2024 low. Up from there, wave (1) ended at 38.49. Dips in wave (2) unfolded as a zigzag structure. Down from wave (1), wave A ended at 37.38 and rally in wave B ended at 38.31. The 45 minutes chart below shows the wave B as the starting point. Down from there, wave ((i)) ended at 37.75 and wave ((ii)) ended at 38.06. Wave ((iii)) lower ended at 36.82 and rally in wave ((iv)) ended at 37.51. Final leg wave ((v)) ended at 36.65 which completed wave C of (2).

The stock has turned higher in wave (3). Up from wave (2), wave ((i)) ended at 38.15 and pullback in wave ((ii)) ended at 37.46. The stock extended higher in wave ((iii)) towards 38.78 and dips in wave ((iv)) ended at 38.10. Up from there, wave (i) ended at 38.79. Expect pullback in wave (ii) of ((v)) before stock turns higher again in wave (iii) of ((v)). Near term, as far as pivot at 36.65 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

BAC 45 Minutes Elliott Wave Chart​

Source: https://elliottwave-forecast.com/news/elliott-wave-expects-bank-america-bac-continue-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Alephium is a Layer 1 blockchain network designed to address the limitations of existing solutions and initiate a new era of decentralized applications (dApps) and decentralized finance (DeFi). In today’s article, we’ll explore the daily Elliott Wave structure of the coin $ALPH and scout the potential path based on the Theory.

$ALPH rallied from $0.0.046 low ( January 2023 ) to a high of $3.84 ( February 2024 ). The 14 months rally achieved an impressive +8170% gains before ending the cycle. The coin started a daily correction and it's currently down 60% from the peak.

The decline from February 2024 is unfolding within a corrective 3 waves Zigzag structure and it did reach the buying area around equal legs at $1.8 – $0.8. The blue box showing in our chart is a technical area where we expect $ALPH to end the current correction then it's expected to start the next leg to the upside in a proposed wave ((3)) or at least bounce in 3 waves from there.

Alephium $ALPH Daily Chart 5.15.2024​

Alephium ALPH 2024-05-15

Setup Recap

-Time Frame : Daily
-Entry Area : $1.8 – $1.4
-Invalidation Condition : Daily Close below $0.8
-Targets / Ratio : Target 1 at $5.3 (3.5 RR) – Target 2 at $7.7 (5.9 RR)
Source: https://elliottwave-forecast.com/cryptos/alephium-alph-buying-area/
 

Elliottwave-Forecast

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Feb 17, 2017
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In this technical article we’re going to take a quick look at the Elliott Wave charts of Ethereum ETHUSD , published in members area of the website. As our members know, ETHUSD is showing incomplete sequences in the cycle from the March peak. Consequently we expect more weakness in short term. Ethereum is targeting 2700.3-2057.9 area , where we would like to be buyers again. Recently the crypto made 3 waves bounce and found sellers as expected. In further text we are going to explain Wave forecast.

ETHUSD H1 London Update 05.06.2024​

ETHUSD is doing a ((iv)) recovery, which is correcting the cycle from the 3352.618 peak. Proposed recovery can be unfolding as a Elliott Wave Double Three pattern .The price has already reached extreme zone from the lows and we expect sellers to appear soon. We are aware that short term recovery can complete any moment. We advise members not to entry long positions at this stage, while still favoring the short side.

Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

ETHUSD

ETHUSD H1 London Update 05.06.2024​

Ethereum found sellers as expected and made a nice decline after completing wave ((iv)) recovery. We consider the wave ((iv)) correction completed at the 3220 high. We expect short term bounces to keep finding sellers in 3,7,11 swings as far as the pivot at 3355.46 high holds. Right way to trade the crypto is waiting for extreme zone to be reached at 2700.3-2057.9 area, before buying the dips again.

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences. We put them in Sequence Report and best among them are presented in the Live Trading Room

New to Elliott Wave ? Check out our Free Elliott Wave Educational Web Page and download our Free Elliott Wave Book.

ETHUSD

Source: https://elliottwave-forecast.com/cryptos/ethereum-ethusd-incomplete-sequences/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Short Term Elliott Wave in SPX suggests that the Index ended wave (4) pullback at 4953.98. From there, it rallies higher in wave (5) as a nesting impulse Elliott Wave structure. Up from wave (4), wave ((i)) ended at 5121.45 and dips in wave ((ii)) ended at 5013.45. The Index is nesting higher within wave ((iii)). Up from wave ((ii)), wave (i) ended at 5200.23 and pullback in wave (ii) ended at 5176.63. Wave (iii) higher is still developing.

We can see another nest formed as part of wave (iii). Up from wave (ii), wave i finished at 5229.58 and pullback in wave ii ended at 5211.16. Then, SPX did a strong rally making an all-time-high breaking March peak. Expect the index moving sideways-higher to complete groups of waves 4s and 5s until wave ((iii)) is finished. Right now, there is not a potential target for wave ((iii)). A strong pull back in the index would suggest that wave ((iii)) has ended and wave ((iv)) correction has started. Then, expect to find support for further upside in wave ((v)). Near term, as far as pivot at 4953.9 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

SPX 60 Minutes Elliott Wave Chart​



Source: https://elliottwave-forecast.com/news/elliott-wave-spx-looking-to-extend-higher/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Short Term Elliott Wave in Silver (XAGUSD) suggests the metal rallies in impulsive structure from 10.3.2023 low. Up from there, wave (1) ended at 25.91 and dip sin wave (2) ended at 21.94. The metal then extended higher in wave (3) towards 29.79. Pullback in wave (4) ended at 26.02 as the 1 hour chart below shows. The metal has resumed higher in wave (5). Internal subdivision of wave (5) is unfolding as a 5 waves impulse Elliott Wave structure.

Up from wave (4), wave ((i)) ended at 27.51 and pullback in wave ((ii)) ended at 26.99. Silver then extended higher in wave ((iii)) towards 28.76 and pullback in wave ((iv)) ended at 27.94. The metal extended higher again in wave ((v)). Up from wave ((iv)), wave (i) ended at 29.18 and pullback in wave (ii) ended at 28.5. The metal extended higher in wave (iii) towards 29.84 and pullback in wave (iv) ended at 29.31. Expect the metal to continue higher to complete wave (v) of ((v)) of 1. Then it should pullback in wave 2 to correct cycle from 5.2.2024 low before it resumes higher. Near term, as far as pivot at 26.02 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.

XAGUSD 60 Minutes Elliott Wave Chart​

Silver (XAGUSD) Elliott Wave Chart

Source: https://elliottwave-forecast.com/news/elliott-wave-expects-silver-xagusd-pullback-find-support/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of BABA Stock, published in members area of the website. As our members know we have been forecasting the long side in Baba Stock in short term. Recently,we got a pull back that has made a clear 3 waves pull back that found buyers right at the equal legs area. In the further text we are going to explain the Elliott Wave forecast

BABA H1 Midday Update 5.14.2024​

Baba stock ended cycle from the 67.58 low as 5 waves structure. The stock is currently giving us pull back against that low. Equal legs area is already reached at 79.01-75.07. We are aware that pull back can complete any moment. We don’t recommend selling the stock and expect further rally to resume from the buyers zone : 79.01-75.07.

Reminder : You can learn more about Elliott Wave Patterns at our Free Elliott Wave Educational Web Page.

Baba

BABA H1 Midday Update 5.14.2024​

Baba has given us nice rally from the marked extreme zone as expected. We count wave 4 red completed at 77.71 low. Rally made a break toward new highs confirming next leg up wave 5 is in progress. The first important tech zone comes at 87.74-90.74. From there we can see intraday pull back before further rally resumes. We don't like short selling the stock and expect it to keep finding buyers in 3,7,11 swings as far as 77.71 pivot holds.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent updates in the membership area of the website. Remember that not every chart is trading recommendation. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the Live Trading Room. You can check most recent charts in the membership area of the site.

Baba

Source: https://elliottwave-forecast.com/stock-market/baba-stock-forecasting-rally-equal-legs/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of SPDR Industrial ETF ($XLI) . The rally from 5.02.2024 low at $120.56 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below:

7 Swings WXY correction​

$BAC

$XLI 1H Elliott Wave Chart 5.17.2024:​

$XLIHere is the 1H Elliott Wave count from 5.17.2024. We expected the pullback to find buyers at the blue box area at 124.65 – 123.80 in 7 swings.

$XLI 1H Elliott Wave Chart 5.20.2024:​

$XLIHere is the latest 1H update from 5.20.2024 showing the bounce taking place as expected. The ETF has reacted higher from the blue box area allowing longs to get risk free. The ETF is expected to trade higher towards $128 – 130 before another pullback can happen.
Source: https://elliottwave-forecast.com/stock-market/industrial-etf-xli-blue-box-area/