Elliottwave-Forecast

Master Trader
Feb 17, 2017
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8
84
www.elliottwave-forecast.com
Splunk Inc ticker symbol: SPLK engages in the development and marketing of cloud software solutions. Its products include Splunk cloud, Splunk light, and Splunk enterprise. It also offers solutions for Information Technology operations, security, internet-of-things, application analytics, business analytics, and industries. The company was founded by Erik M. Swan, Michael J. Baum, and Robin K. Das in October 2003 and is headquartered in San Francisco, CA. We will take a look at the Elliott wave view below:

SPLK Weekly Elliott Wave Chart​

Splunk Incorporation ( SPLK) Elliott Wave Forecast Analysis

Above is the Weekly time frame Elliott wave chart of SPLK. In which, the stock is correcting the cycle from all-time lows. So far the decline from the 02 September 2021 peak is unfolding as an Elliott wave double three structure where the first leg ended in the wave (w) at $110.28 low. Up from there, a bounce to $176.55 high-ended wave (x) and made the (y) leg lower. Now, as far as it remains below $176.55 high expect the stock to extend lower towards the $60.93- $33.53 blue box area. From there, buyers are expected to appear looking for wave ((III)) higher or should do a big 3 wave bounce at least.

Source: https://elliottwave-forecast.com/stock-market/splk-elliott-wave-forecast-analysis/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
KGHM Polska Miedź S.A. is a multinational corporation which has its headquarters in Lubin, Poland. Traded under tickers $KGH at WSE and $KGHPF in US in form of ADRs, it is a component of the WIG30 index. KGHM has been a major copper and silver producer for more than 50 years. As a matter of fact, it operates 9 underground and open-pit mines located in Poland, USA, Canada and Chile and is actively advancing other projects. KGHM produces key global resources including copper, silver, gold, platinum, nickel and others. Currently, we see indices but also metals like copper and silver resetting one more time. A turn higher along with weak dollar, should be the next big move. As a rule, the rally in prices of metals provides a magnifying effect on the share prices of metals producing companies. Therefore, KGHM being one of major producers should become a profitable invetsment target as it should ramp up along with acceleration in commodities prices.

Previously, we have discussed the stock price of KGHM already twice. First, it has demonstrated an impressive rally since our initial article from August 2020. Then, in the last article from June 2021, we saw a new all-time high predicting a pullback to happen soon. Indeed, the pullback took place. Now, we are close to buying area anticpating a next big rally. This blog provides an update.

KGHM Monthly Elliott Wave Analysis 08.28.2022​

The monthly chart below shows the KGHM shares $KGH traded at Warsaw Stock Exchange. First, from the all-time lows, the stock price has developed a cycle higher in wave (I). Hereby, KGHM has printed a top in October 2007 at 145. Since the red wave III of blue wave (I) shows a price separation higher, the cycle up is obviously an impulse. From the highs, a correction lower in wave (II) has unfolded as a zigzag correction being a 5-3-5 structure. It has found an important bottom in October 2008 at 20.10.

From the 2008 lows, another motive cycle has started. KGHM has broken the 2007 highs at 145 in a 5 waves move in the red wave I. Hereby, the share price has printed a high in April 2011 at 200.30. From there, a multi-year correction in wave II has started. Hereby, one can recognize a double three pattern. It has ended in March 2020 with a capitulation move down to 48.01.

From the March 2020 lows at 48.01, KGHM has started a new cycle higher in wave III of (III). Break to the new all-time highs has confirmed that. The target area for the wave III to end is towards 229.05-340.55 and possibly higher. As of right now, first leg up has reached already the minimum expectations. It is the the preferred view that the leg up is the wave ((1)) of III which has ended at 230.80. From the al-time highs, a pullback in wave ((2)) is currently in progress and should find support in 3, 7, 11 swings above March 2020 lows at 48.01 for a new rally towards 230.80 and even higher.

KGHM Elliott Wave Weekly

KGHM Daily Elliott Wave Analysis 08.28.2022​

The Daily chart below shows in more detail the pullback in wave ((2)) from the all-time highs printed in May 2021. The consolidation pattern is most likely a zigzag pattern. First, impulse in blue wave (A) has found its bottom in November 2021 at 131.50. Then, a bounce in blue wave (B) has set connector in March 2022 at 193.60. From there, wave (C) has been confirmed by breaking 131.50 lows. Diagonal structure in blue wave (C) might be currently in the short term bounce as wave 4. Then, a final move in wave 5 of (C) towards the inflection area should take place.

Investors and traders should be looking to buy KGHM from 94.14-32.41 blue box area. While price holds above 48.01, the decline is black wave ((2)) and the rally will be the black wave ((3)). If 48.01 will break, then KGHM has been correcting the cycle up in black wave ((I)) against the all-time lows in black wave ((II)). In either case, a new cycle towards 230.80 highs and beyond should take place

KGHM Elliott Wave Daily

Source: https://elliottwave-forecast.com/stock-market/metals-producer-kghm-buying-area/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
HeidelbergCement is a German multinational building materials company. Today, it is the largest producer of construction aggregates in the world. It is number 2 in production of cement and number 3 worldwide in ready mixed concrete. Founded in 1874 and headquartered in Heidelberg, Germany, HeidelbergCement is a part of DAX40 index. One can trade it under the ticker $HEI at XETRA.

In the initial article from October 2021, we have explained that the pullback from April 2021 offers an opportunity. Now, we see a connector in place and we are able to identify next buying are. Here, we provide an update.

HeidelbergCement Monthly Elliott Wave Analysis 08.28.2022​

The monthly chart below shows the HeidelbergCement stock $HEI traded at XETRA. From all-time lows, the stock price has developed a strong initial nest. Just to recall: A nest is a sum of waves 1 and 2 of the same degree. First, black wave ((I)) has ended in May 2006 at 96.11. Then, wave ((II)) has corrected the cycle higher within an expanded flat structure lower. Hereby, wave (b) of ((II)) has printed the all-time highs in April 2007 at 112.03. The consolidation within wave ((II)) has ended in February 2009 at 18.01.

From February 2009 low, a new cycle in wave ((III)) has started. Break above 112.03 highs will confirm that. Within wave ((III)), $HEI is showing a series of nests. First, waves (I)-(II) have ended on March 2020 at 29.00. From there, a second nest is curently in progress. Wave I has ended in April 2021 at 81.04 and wave II should find support above 29.00 lows in 3, 7 or 11 swings. Then acceleration higher in red III of blue wave (III) of black wave ((III)) should take place.

HeidelbergCement Elliott Wave Monthly

HeidelbergCement Daily Elliott Wave Analysis 08.28.2022​

The Daily chart below shows in more detail the pullback in wave II from the April 2021 peak at 81.04. The consolidation pattern is most likely a zigzag pattern. First, impulse in black wave ((A)) has found its bottom in December 2021 at 56.60. Then, a bounce in black wave ((B)) has set connector in February 2022 at 68.08. From there, wave ((C)) has been confirmed by breaking 56.60 lows. Diagonal pattern in black wave ((C)) being 3-3-3-3-3 structure might be currently in the short term bounce as red wave B of blue wave (5). Then, a final move in wave C of (5) into the inflection area should take place.

Investors and traders should be looking to buy $HEI from 43.59-29.00 area for a rally into a red wave III towards 81.04 highs and even higher. As an outlook, wave (III) of ((III)) should extend towards 107.22-155.52 area and possibly higher. The target for the entire wave ((III)) will be 114.42-174.01 area. Current prices offer, therefore, a high profit potential for those who would like to diversify their portfolio by indirect investment in commodities and construction business.

HeidelbergCement Elliott Wave Daily

Source: https://elliottwave-forecast.com/stock-market/heidelbergcement-entering-buying-area/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
Good day Traders and Investors. In today’s article, we are going to follow up on Novavax Inc. ($NVAX) forecast posted back in April 2022 and take a look at the latest 4H count.

Novavax, Inc. is an US American biotechnology company. Founded in 1987 and headquartered in Gaithersburg, Maryland, USA, it is a part of Russel1000 index. Before 2020, the company has developed vaccines to counter such diseases like Ebola, influenza, respiratory syncytial virus (RSV) and others. During 2020, Novavax has redirected the efforts on development and approval of Nuvaxovid vaccine for COVID-19.

Novavax ElliottWave April 2022 View (Daily):​

NVAX-daily.jpg


The cycle from the February 2021 peak remains alive and the decline has extended in the Blue Box Area ($63.51 – 3.54). How deep can wave 5 extend before finding buyers? Lets downgrade to the 4H to find out.

Novavax ElliottWave Latest View (4H):​

https://elliottwave-forecast.com/wp-content/uploads/2022/08/NVAX-4H20220828161358.jpg

The decline since the wave 4 peak has been pretty technical, unfolding in 5 waves. We can be trading at the tail end of this decline and do two more lows in series of 4s and 5s to end ((v)) of 5 of (C) of ((Y)) of II. The area where buyers can be waiting to appear comes at $23.99 – 6.70 (1.236 – 1.618 inverse fib). As long as the Invalidation level at $3.54 remains intact, we expect buyers to appear to start the next leg higher or produce a bounce in minimum 3 swings higher.

Source: https://elliottwave-forecast.com/stock-market/updated-novavax-inc-nvax-4h-forecast/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
UnitedHealth Group Incorporated (UNH) is an American multinational managed healthcare and insurance company based in Minnesota. It offers health care products and insurance services. This company is a component of the Dow Jones Index with a weight of more than 10% of the total index. In this blog we are going to analyze the UNH stock to try to estimate the future movements of YM (Dow Jones future) using the Elliott Wave theory.

UNH Weekly Chart Alternative A​

UNH Weekly Chart Alternative A
In the chart above, UNH shows that an impulse has been completed as wave I from point X which is the low of March 2020. This means that we should be building a corrective wave II. It can be seen that waves ((A)) and ((B)) could form a flat correction structure. Therefore, to complete this structure we should see 5 waves down from current levels towards the blue box and then continue to the upside.

UNH Weekly Chart Alternative B​

UNH Weekly Chart Alternative B

In this second alternative, we show that the impulse from the March 2020 lows is not over yet. Therefore, we need one more high to finish wave ((5)) in the form of an ending diagonal. This would complete the impulse and we would wait for at least 3 waves lower before continuing the rally.

YM_F Daily Chart Alternative A and B​

YM_F Daily Chart Alternative A and B

Here we have the YM chart where we show the two previously discussed alternatives of UNH stock. Alternative A (orange) would occur, if UNH is in a flat correction and YM would continue to move lower. Alternative B (green) is almost the same. The difference is in the strength of the rebound. If UNH breaks the high to complete its wave ((5)), this could make a stronger bounce in YM. This could result in a flat structure for the index, so the fall of the green alternative would be in 5 waves.

UNH Weekly Chart Alternative C​

UNH Weekly Chart Alternative C

For last part of the analysis, we look for an extension to complete wave ((5)). So we need 5 waves higher in lesser degree at UNH before we see any correction. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory).

YM_F Daily Chart Alternative C and D​

YM_F Daily Chart Alternative C and D

Let's see how the UNH wave extension ((5)) affects YM. Here we propose 2 more alternatives. Everything will depend again on YM's bullish bounce as UNH breaks higher and completes wave (1) in this case. If YM reaction is weak by the time UNH makes new highs, then we will have alternative C. YM will rise smoothly, would fall in 3 waves, and then we would see 3 waves higher before the correction. This move would reflect the 5 waves extension that could occur at UNH. Alternative D, indicates a stronger YM reaction when UNH makes wave (1). Then we would have the same structure of the previous alternative. 3 waves down and then 3 waves up before seeing a correction.

In conclusion, we can say that next week's rebound will be very important in determining the best alternative to take. If the rebound is weak at YM, then we should follow alternatives A and C. If the rebound is strong, then we should follow alternatives B and D.

Source: https://elliottwave-forecast.com/stock-market/forecasting-path-dow-unh-stock/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
Hello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of 10 Year Notes ( $ZN_F) . As our members know, ZN_F has given us recovery against the 135'17 peak- wave ((4)). Once we got the signs that turn is ready to happen, we label cycle from the June 14th low completed at the 122'015 peak. Since then, we are calling for a decline in the price of 10 Year Notes. In the further text we are going to explain the Elliott Wave Forecast.

10 Year Notes ( $ZN_F) H1 Elliott Wave Analysis 08.03.2022​

10 Year Notes is showing clear 3 waves up in the cycle from the June low. At this stage we are calling June cycle completed at 122'028 peak as wave ((4)). Decline from the mentioned high shows clear 5 waves structure, suggesting new cycle has begun. We expect to see 3 waves bounce in wave (2) blue, that will correct the drop from the 122'018 peak. Once (2) blue completes, the price should ideally continue trading lower again.



10 Year

10 Year Notes ( $ZN_F) H1 Elliott Wave Analysis 08.05.2022​

ZN_F made 3 waves up in (2) blue, that ended at 120'29 as truncated ABC zig zag. We got sharp decline toward new lows, breaking below previous (1) blue low. That break confirmed next leg down is in progress and ZN_F now remains bearish against the 120'29 high . Considering the price is in wave (3) now, we are targeting 118'07-116'17 at least.

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

10 Year

10 Year Notes ( $ZN_F) H4 Elliott Wave Analysis 08.25.2022​

After 2 weeks of trading sideways to lower 10 year notes has finally reached our target zone at 118'07-116'17. At the chart below you can see what inner Elliott Wave labeling for wave (3) blue looks like.

Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Please keep in mind that now 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.

10 Year

Elliott Wave Forecast
Source: https://elliottwave-forecast.com/elliottwave/10-year-notes-zn_f-elliott-wave/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
The Toronto-Dominion Bank (TD), together with its subsidiaries, provides various financial products & services in Canada, US & internationally. It operates through three segments: Canadian retail, US retail & Wholesale banking. It is based in Toronto, Canada, comes under Financial services sector & trades as “TD” ticker at NYSE.

TD ended wave I at $86.02 as ATH & below there, it favors correcting lower in II correction in double three sequence. It expect to bounce in short term, before further downside will resumes later.

TD - Elliott Wave Latest Daily View :​

It made $33.74 low during global sell off in early 2020. Later it made an impulse sequence as I red and favored ended at all time high at $86.02. It placed ((1)) at $51.34 high on 8/27/2020. Below there, it favored ended ((2)) at $42.90 low as 0.5 Fibonacci retracement against ((1)). It ended ((3)) at $73.85 high on 5/27/2021 as third wave extension. It placed ((4)) at $62.81 on 9/20/2021 as 0.382 Fibonacci retracement against ((3)). Finally, it ended ((5)) at $86.02 as I impulse. While below there, it favors lower in II correction in 7 or 11 swings.

Below $86.02 high, it placed ((W)) at $58.64 low on 7/14/2022. Currently, it favors a corrective bounce in ((X)) leg in proposed 7 swings correction. It favors pullback in (X) leg followed by more upside in (Y) to finish ((X)) connector. Later it expect more weakness to continue in ((Y)) leg to finish larger II correction. We like to buy the dips towards extreme areas in wave II, when reached.

Source: https://elliottwave-forecast.com/stock-market/td-expect-sideways-lower-upside-resumes/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
In Jackson Hole speech last Friday, Fed's governor Jerome Powell indicated that the Fed is serious in fighting inflation and will not pivot early. He also suggested that further hikes are likely as inflation rate continues to be elevated. The pace of change in inflation has started to slow down after a series of hikes this year. US Dollar responded by rallying, dragging down commodities such as Platinum. In the charts below, we will look at the Elliott Wave technical outlook for the metal.

Platinum Monthly Elliott Wave Chart​

Platinum Daily Chart

Monthly chart shows that Platinum has ended larger degree Grand Super Cycle wave ((II)) at $846.2. The metal has resumed higher in wave ((III)) and wave (I) of ((III)) ended at $1348.2. Pullback in wave (II) of ((III)) is in progress to correct wave (I) before the metal resumes higher again.

Platinum Daily Elliott Wave Chart​

Daily Elliott Wave Chart of Platinum suggests wave (II) has scope to extend lower. The ideal target is 100% - 123.6% Fibonacci extension at $631 - $739. From there, the metal finds strong support and do at least larger 3 waves rally. Wave ((4)) of c is proposed complete at $974.6 even though it still needs to break below wave ((3)) low at $806.7. Expect the metal to extend lower in wave ((5)) of c towards the blue box area before strong rally can be seen.

Source: https://elliottwave-forecast.com/commodities/platinum-pl-resumed-lower/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
Caterpillar Inc. ($CAT) is an American Fortune 100 corporation that designs, develops, engineers, manufactures, markets, and sells machinery, engines, financial products, and insurance to customers via a worldwide dealer network. It is the world’s largest construction-equipment manufacturer. Caterpillar stock is a component of the Dow Jones Industrial Average.

Caterpillar ElliottWave September 2022 View (Weekly):​

https://elliottwave-forecast.com/wp-content/uploads/2022/09/CATerpillar-Weekly20220904160726.jpg

The Weekly Chart above shows the cycle from March 2020 low unfold in a 5 waves impulse structure. After the peak in late May 2021, CAT is now favoured to have ended a super cycle from 2009 lows and can be correcting it. For now, it has pulled back in a double three structure (7 swings) . It hit the Blue Box area ($170.34 – 128.66) where a reaction higher took place. So far, the reaction higher has unfolded in 5 swings and is now pulling back in ((B)) where a bounce is expected to take place soon as long as the July low at 167.08 remains intact. Any longs from the blue box should be risk free at this point. Whether the low at 167.08 will hold remains to be seen. We don't like selling it but if we break below July lows then, we like to buy again at the next blue box area in red y.

Source: https://elliottwave-forecast.com/st...r-inc-cat-reached-inflection-area-whats-next/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
S&P/TSX is a major stock market index which tracks the performance of largest companies by market capitalization on the Toronto Stock Exchange in Canada. It is a free float market capitalization weighted index. The index covers approximately 95 percent of the Canadian equities market. The S&P/Toronto Stock Exchange Composite Index has a base value of CAD1000 as of January 1, 1975.

TSX Daily Chart July 1rt 2022 TSX Daily Chart July 1rt 2022

Last update, we were in the last swing to complete a double correction. We expected to bounce in the ideal zone to end the cycle given in 18306 – 17129 area. From here, we expected to continue with the rally that breaks 22219 peak or see 3 swings upwards at least.

TSX Daily Chart September 2nd 2022 ALT 1

TSX Daily Chart September 2nd 2022 ALT 1

After two months, the index bounded strongly after hitting the blue box. Now with this information, we can determine 3 paths to follow in medium or long term. The first one, this is just continuing to the upside to break the 22219 peak as long as we are above 18164.

TSX Daily Chart September 2nd 2022 ALT 2

TSX Daily Chart September 2nd 2022 ALT 2

The second is to complete 3 swings up at least. This means that wave (A) and (B) are over and we should make a bullish impulse higher until reaching the 21138 – 21648 area. Here the market should be rejected to continue the downtrend and break 18164. (If you want to learn more about Elliott Wave Theory, please follow these links: Elliott Wave Education and Elliott Wave Theory).

TSX Daily Chart September 2nd 2022 ALT 3

TSX Daily Chart September 2nd 2022 ALT 3

The last alternative shows us the possibility that the 3 swings higher have already ended and that we would only continue with the downward trend. This is doing a double correction to break the low 18164 while we are below 20331.

The key here is to determine which level is going to break first. If 20331 breaks, then we would be within the first two alternatives. If 18164 breaks first then we are in the third alternative. So, this September will be very important for the rest of the year and next.

Source: https://elliottwave-forecast.com/stock-market/tsx-bounced-blue-box-next/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
Genmab A/S (GMAB) develops antibody therapeutics for the treatment of the cancer and other diseases. The company is based in Copenhagen, Denmark, comes under Healthcare – Biotechnology sector & trades as “GMAB” ticker at Nasdaq.

GMAB made an all time high at $49.07 & currently favors correcting lower the sequence up since 2013 low. It favors a corrective bounce as connector, which expect to fail below all time high to resume lower in proposed zigzag correction.

GMAB - Elliott Wave Latest Weekly Chart :​



Since 2013, all time low of $2.80, it ended an impulse sequence at $49.07 high. It ended ((1)) at $23.55 high & placed ((2)) at $12.10 low as correction. Wave ((2)) was 0.5 Fibonacci retracement of ((1)). It placed ((3)) at $44.83 high as 1.618 Fibonacci extension of ((1)). It favored ended ((4)) at $30.10 low. Finally, it ended ((5)) at $49.07 high as wave I in the sequence started since 2013 low. Below there, it correcting lower in II in proposed zigzag structure.

Below wave I high, it placed ((A)) at $26.19 low. Above there, it favors higher in ((B)) connector, which ideally should fail below all time high to resume lower in ((C)) leg. Currently, it favors pullback in (B) leg before upside in (C) of ((B)). We like to buy the dips towards equal leg areas, when reached in ((C)) of II for at least 3 swing bounce or upside in wave III.

Source: https://elliottwave-forecast.com/stock-market/gmab-expect-sideways-lower/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
The Transportation sector dived during Covid Pandemic. Since the low on 03.2020, the recovery has been very anemic compared to the rest of the Indices and Stocks around the World. Delta has been one of the more substantial companies within the airline industry and will soon provide another chance to buy the trend. The Grand Super Cycle shows a lovely impulse, as shown in the following chart

Delta Monthly Elliott Wave Chart​



The Idea is a five-wave impulse and a three-wave pullback in the form of a FLAT, which ended in 2020. Since then, the stock has rallied. We believe the advance was in five waves and now should be correcting the cycle from 03.2020 lows.

The Elliott Wave Theory, as explained in the following article https://elliottwave-forecast.com/elliott-wave-theory/, states that after five waves advance, there is always a three waves pullback before the continuation of the previous cycle. The Five waves advance looks like the following chart:

5 Waves Impulse Followed With 3 Waves Pullback​



At this moment, Delta should be at the beginning of a new process and as far as it stays above 03.2020. Otherwise, a break lower should see the 100% extension since the peak at 07.01.2019 but will be a buying opportunity within the alternate view.

The Elliott Wave Theory is a repetition of patterns, which comes from the microsecond cycles to the Grand Supercycle. The Theory helps many trades to stay on the right side. At EWF, we have added new tools to improve the Theory. The five waves advance and three waves pullback remain the main pattern of the Theory. As of right now, we will concentrate on the cycle since the low at 03.2020 which unfolded as an impulse. The stock is doing ABC correction since the peak at 03.01.2021. The following chart is the Daily view

Delta Airlines (DAL) Daily Elliott Wave Chart​



The daily chart above shows the five waves' advance and the corrective pullback. The chart also shows target to enter the market at $18.5 - $23.78.

In conclusion, Delta still can drop more, but nobody can deny the two impulses from all-time low and 03.2020. The area of $23.92-$18.55 might offer a good next opportunity to buy the symbol.

Source: https://elliottwave-forecast.com/st...nc-another-buying-opportunity-in-the-horizon/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
Lean Hogs is a livestock commodity within the agriculture asset class, along with live cattle, feeder cattle and pork cutouts. One can trade Lean Hogs futures at Chicago Mercantile Exchange in contracts of 40’000 pounds each under the ticker HE #F. As a matter of fact, the futures prices are widely used by U.S. pork producers as a reference for selling their hogs. Therefore, anticipation of the HE #F price development is of a high impact on the modern society. Indeed, the price action of the lean hogs futures reflects the future steak price on the barbecue.

Currently, we see all commodities turning higher after a long period of depressed prices. Also, lean hogs are expected to be already in a new bullish cycle. Will the rally in HE #F make pork meat unaffordable for the broad population?

Lean Hogs Monthly Elliott Wave Analysis 09.05.2022​

The monthly chart below shows the lean hogs front contract HE #F. Firstly, from the start of trading back in 1966, the prices have developed a cycle higher in black wave ((w)) of a grand super cycle degree. It has printed the all-time highs in July 2014 at 133.80. Then, from the highs, a correction lower in wave ((x)) has unfolded as an Elliott Wave double three pattern. In almost six years, HE #F have become cheaper by almost 70% reaching 41.50 price level. It is the preferred view that an important bottom on April 2020 has been set and the black wave ((x)) has ended. From the lows, the recovery in prices may have started.

For 2023-2030, the expectations are to break out to the new all-time highs. The target for wave ((y)) to end will be 175-258 area.

Lean Hogs Elliott Wave Monthly

Lean Hogs Daily Elliott Wave Analysis 09.05.2022​

The daily chart below shows in more detail the advance from the April 2020 lows. Firstly, from the bottom at 45.50, red waves a and b have ended. Hereby, wave a is a textbook quality impulse. Obviously, black wave ((3)) of red wave a shows an extension. Then, from the lows of September 2021 at 71.275, wave c has started. It has been confirmed by breaking above the peak of red wave a at 123.60 opening up a bullish sequence. Now, we expect wave c of an Elliott wave zigzag in blue wave (w) to reach higher towards 153-204 area.

In shorter cycles, wave ((1)) has ended. Consolidation in black wave ((2)) shows a double three structure. Investors can be looking to buy wave ((2)) in 7 swings from 83.69-71.27 area targeting 153-204 area medium-term and 175-258 area in a long run.

Lean Hogs Elliott Wave Daily

Source: https://elliottwave-forecast.com/commodities/pork-prices-double-lean-hogs/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
1,890
8
84
www.elliottwave-forecast.com
The fundamental of Uranium continues to get better. Various countries like Japan and South Korea have now turned to nuclear power as a solution to the energy crisis. The U.S. and Europe recently proposed to put a cap on Oil supplied by Russia. Russia in turns turned off the gas pipe in Nordstream 1. The tit for tat economic war risks to unleash the worst energy crisis in Europe and by extension around the world. Already the European continent is facing a steep rise in electricity bills affecting a lot of the local businesses. As the outlook for Uranium gets better, 1 Uranium-mining company which could offer a leveraged play in Uranium sector is Cameco (symbol: CCJ). Below is the chart for the stock.

$CCJ Monthly Elliott Wave Chart​



Monthly chart above suggests the stock ended wave (II) at 5.30 and the stock has resumed higher in wave (III). Up from wave (II), wave I ended at $28.49 and wave II is proposed complete at $20.02. The stock still needs to break above the previous peak at $32.49 to confirm the next leg higher has started and rule out a double correction

$CCJ Daily Elliott Wave Chart​



Daily Chart above shows that Wave II ended already at $20.02 as a running flat. The stock however still needs to break above wave ((B)) of II at $32.49 in order to confirm the view. As far as the stock stays above $5.3, pullback should find support in 3, 7, or 11 siwng for further upside.

Source: https://elliottwave-forecast.com/stock-market/cameco-ccj-looking-extend-higher/
 

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 1 hour Elliott Wave Charts of EURUSD. In which, the decline from the 10 August 2022 high unfolded as an impulse sequence and favored extension in wave five to take place. Therefore, we advised members to sell the bounces in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

EURUSD 1 Hour Elliott Wave Chart​

EURUSD Resume Downside After Finding Sellers At Blue Box

Here’s 1hr Elliott wave Chart from the 8/26/2022 London update. In which, the decline to $0.9898 low ended 5 waves from 08/10/2022 high in wave 1 & made a bounce in wave 2. The internals of that bounce unfolded as an Elliott wave double correction where wave ((w)) ended at $1.0033 high. Then a pullback to $0.9945 low ended wave ((x)) pullback and started the ((y)) leg higher towards $1.0080- $1.0165 blue box area from where sellers were expected to appear looking for more downside or for a 3 wave reaction lower at least.

EURUSD Latest 1hr Elliott Wave Chart​

EURUSD Resume Downside After Finding Sellers At Blue Box

This is the latest 1hr view from the 9/06/2022 London update. In which the pair is showing a reaction lower taking place from the blue box area allowing shorts to get into a risk-free position shortly after taking the position. So far the pair has already made a new low below the 8/23/2022 low confirming the next extension lower to take place. As far as short-term bounces fail below $1.0090 high.

Source: https://elliottwave-forecast.com/forex/eurusd-resume-downside/
 

Elliottwave-Forecast

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Feb 17, 2017
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Oats are one of the grain commodities, along with soft red wheat, hard red wheat, corn, soybeans and others. The oat (Avena sativa) is a species of cereal grain grown for its seed. While oats are suitable for human consumption as oatmeal and rolled oats, one of the most common uses is as livestock feed. Oats are a nutrient-rich food associated with lower blood cholesterol when consumed regularly. Since this cereal grain plays a role in the food supply chains for both humans and livestock, investors should be paying attention to the price development of the oats as a commodity. One can trade oats futures at Chicago Board of Trade under the ticker $ZO. Hereby, the contract size is 5’000 bushels (300’000 pounds) each and the prices are in Dollars US per 100 bushel.

Oats Quarterly Elliott Wave Analysis 09.09.2022​

The weekly chart below shows the Oats front contract ZO #F. From the all-time lows, the prices have developed a cycle higher in black wave ((w)) of a grand super cycle degree. It has ended in April 2022 by printing the new all-time high at 811 Dollars. The overall structure from 1974 to 2022 has unfolded as an Elliott wave zigzag pattern. Firstly, a leading diagonal in blue wave (a) has ended in January 2014 at 504'4. Then, from the highs, a correction in blue wave (b) has printed an important bottom at 166'4. From the lows, a new cycle in wave (c) shows an impulse. It has reached the 672'1-984'6 area.

From the April 2022 highs, a correction lower in wave ((x)) against the all-time lows is currently in progress and should find support in 3, 7, 11 swings. 2023-2030, the expectations are to break out to the new all-time highs.

Oats Elliott Wave Quarterly

Oats Weekly Elliott Wave Analysis 09.09.2022​

The daily chart below shows in more detail the advance from the April 2018 lows and the correction of the cycle against the all-time lows. From the April 2018 low at 215, one can clearly see an impulsive blue wave (c) up. Obviously, there is an extension within blue wave (3) of black wave ((3)) of red wave III. As a matter of fact, such an extension is a characteristic feature of an impulse. After printing the new all-time high at 811 Dollars, a consolidation lower in black wave ((x)) is unfolding as a Zigzag being a 5-3-5 structure. Firstly, blue wave (a) has ended in May 2022 at 585'6 lows. Then, a bounce in wave (b) has set a connector at 708'2. From there, a new cycle in wave (c) has been confirmed by breaking the May lows.

Investors and traders can be looking to buy the weekly blue box being 483'4-344'3 area. There, a reaction higher in black wave ((y)) should take place. Long-term target is $811 and beyond. Alternatively, a reaction in 3 waves as minimum out of the blue box range should take place.

Oats Elliott Wave Weekly

Source: https://elliottwave-forecast.com/commodities/oats-weekly-buying-area/
 

Elliottwave-Forecast

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Feb 17, 2017
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HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It is India’s largest private sector bank by assets and world’s 10th largest bank by market capitalization as of April 2021, the third largest company by market capitalization of $122.50 billion on the Indian stock exchanges. It is also the fifteenth largest employer in India with nearly 120,000 employees.

HDFC BANK Daily Chart May 28th 2022​

HDFC BANK Daily Chart May 28th 2022

Last May, we showed how HDFC BANK completed an impulse at 1726.02 from March 2020 low and we called it wave I. From there we had a corrective movement. The drop from the peak 1726.02 was in 3 swings. Wave (A) ended at 1412.85, corrective wave (B) made a triangle and ended at 1530.84. It then continued lower to complete wave (C) and wave ((A)) at 1291.96. The market had a strong rebound that tested the highs ending wave ((B)) at 1721.65 and turned quickly making an ending diagonal structure completing wave ((C)) and wave II at 1280.31. (If you want to learn more about Elliott Wave Theory, follow these links: Elliott Wave Education and Elliott Wave Theory).

HDFC BANK Daily Chart August 09th 2022​

HDFC BANK Daily Chart August 09th 2022

After the bounce from the blue box, we were surprised by low testing again. Therefore, wave ((C)) and wave II ended the cycle at 1270.19 to continue the rally. We can see from the chart that since the new low, HDFC Bank has already built 4 waves up and needs one more wave to break 1513.88 to finish an impulse. We will call this impulse wave (1). After this, we expect a corrective move in 3, 7 or 11 swings to end wave (2) and then continue with the rally. The view is valid as long as the correction remains above 1270.19.

HDFC BANK Daily Chart August 09th 2022 Alternative View​

HDFC BANK Daily Chart August 09th 2022 Alternative View

An alternative count for HDFC Bank is that it makes a double correction from 1726.02 peak. That is, the low of 1721.65 is considered as wave ((W)) and we are currently finishing a flat correction (A), (B), and (C), as wave ((X)). In this situation, what would happen is that when the impulse is completed, the stock price will continue to fall below 1270.19. Therefore, the movement of the market in this last quarter will be very important to determine what will happen with the share’s prices for the beginning of the next year.

Source: https://elliottwave-forecast.com/stock-market/hdfc-bank-bounce-blue-box-rally-continue/
 

Elliottwave-Forecast

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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 Soybeans futures $ZS_F. As our members know, Soybeans futures is having incomplete bearish sequences in the cycle from the 1784'0 peak. Current view is calling for further weakness against the 1671'7 pivot. Recently the commodity has given us another trading opportunity. We got 3 waves recovery which found sellers right at equal legs area as we expected. In the further text we are going to explain the Elliott Wave Forecast and Elliott Wave Pattern.

Before we take a look at the real market example, let’s explain Elliott Wave Zigzag pattern.

Elliott Wave Zigzag is the most popular corrective pattern in Elliott Wave theory . It’s made of 3 swings which have 5-3-5 inner structure. Inner swings are labeled as A,B,C where A =5 waves, B=3 waves and C=5 waves. That means A and C can be either impulsive waves or diagonals. (Leading Diagonal in case of wave A or Ending in case of wave C) . Waves A and C must meet all conditions of being 5 wave structure, such as: having RSI divergency between wave subdivisions, ideal Fibonacci extensions and ideal retracements.

soybeans

Soybeans $ZS_F Elliott Wave Analysis 08.25.2022​

Soybeans futures is correcting the short term cycle from the 1671'7 peak. Recovery is unfolding as potential Elliott Wave Zig Zag Pattern and looking incomplete at the moment. The price is showing higher high from the lows, suggesting (B) blue recovery can see more upside toward 1610'6-1650'2 area. Target for ending point of (B) blue is got by measuring equal legs from the low A red related to B red. As the commodity is currently in bearish cycle, we expect sellers to appear at the mentioned zone for further decline toward new lows ideally or for a 3 waves pull back at least .Once pull back reaches 50 Fibs against the B red low, we will make short position risk free ( put SL at BE) and take partial profits. As our members know Blue Boxes are no enemy areas , giving us 85% chance to get a reaction.

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

Soybeans



Soybeans $ZS_F Elliott Wave Analysis 09.07.2022​

The commodity made rally toward target area and found sellers as expected. Recovery (B) blue ended at 1615'1 high. Soybeans made sharp decline from the Blue Box (selling zone) breaking toward new lows. As a result, members who took short trades mad positions risk free. ( Put SL at BE) and took partial profits. Decline from the 1615'1 high looks impulsive and we are now most likely doing flat in 2 red recovery.

Keep in mind market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. 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.

soybeans
Source: https://elliottwave-forecast.com/trading/soybeans-zs_f-selling-opportunity/
 

Elliottwave-Forecast

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Feb 17, 2017
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Good day Traders and Investors. In today’s article, we are going to follow up on Nio Inc. ($NIO) forecast posted back in Feb 2022 and take a look at the latest count. You can find the article here.

Nio (NYSE: NIO) is a Chinese multinational automobile manufacturer with headquarters in Shanghai. It specializes in designing and developing electric vehicles. Nio tries to distinguish itself by innovating in two key areas which are battery technology and self-driving software. The company offers modular batteries for an easy swap in minutes. It also offers Battery-as-a-Service (BaaS) which allows customers to subscribe for car batteries rather than paying for them upfront.

Nio ElliottWave Latest Sep 2022 View (Weekly):​



Weekly Chart above suggests that NIO has ended the cycle from all-time low. The stock is now pulling back to correct that low within wave ((II)) in a 3 swing structure. The first leg of the correction wave (a) ended at $31.91, bounce in wave (b) ended at $55.13 and sellers appeared to resume the downside. Wave (c) has managed to reach the blue box area ($18.73 - 1.19) where buyers are expected to appear and start the next leg higher but we can still see more downside in wave V of (c). We don't like selling it. As far as the pullback stays above $1.19, we expect the stock to extend higher in the future.

Nio ElliottWave Alternative Sep 2022 View (Weekly):​

NIO Weekly20220912122951

What about the alternative view? We at Elliottwave Forecast look at all the possibilities and try to educate our members on alternative counts. The Weekly Chart above shows the alternative view.

There is a chance that the stock can remain supported and trade in 2nd dimension when the rest of the market continues lower. As long as price stays above 05/12/2022 low at $11.67, Nio can pullback in 3, 7 or 11 swings to correct cycle from May 12th before buyers appear and continue the rally. We like to remain long from the Blue Box area.

Source: https://elliottwave-forecast.com/stock-market/nio-inc-nio-reached-inflection-area-whats-next/
 

Elliottwave-Forecast

Master Trader
Feb 17, 2017
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www.elliottwave-forecast.com
In this technical blog, we will look at the past performance of 1-hour Elliott Wave Charts of NVDA. In which, the decline from 05 August 2022 high is unfolding as an impulse sequence and showed a lower low sequence within the bigger cycle from November 2021 peak. Therefore, we knew that the structure in NVDA is incomplete to the downside & should see more weakness. So, we advised members to sell the bounces in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

NVDA 1 Hour Elliott Wave Chart​

NVDA Reacting Lower Perfectly From Blue Box Area

Here’s 1hr Elliott wave Chart from the 9/11/2022 Weekend update. In which, the decline to $132.76 low ended 5 waves from 8/26/2022 high in wave ((3)) & made a bounce in wave ((4)). The internals of that bounce unfolded as an Elliott wave zigzag correction where wave (A) ended at $141.71 high. Then a pullback to $133.46 low ended wave (B) pullback and started the (C) leg higher towards $142.51- $148.14 blue box area from where sellers were expected to appear looking for more downside or for a 3 wave reaction lower at least.

NVDA Latest 1 Hour Elliott Wave Chart​

NVDA Reacting Lower Perfectly From Blue Box Area

This is the Latest 1hr view from the 9/19/2022 Midday update. In which the stock is showing a reaction lower taking place from the blue box area allowing shorts to get into a risk-free position shortly after taking the position. Currently, the stock has already made a new low confirming the next extension lower towards $129.16- $123.54 area lower minimum before a bounce happens.

Source: https://elliottwave-forecast.com/stock-market/nvda-reacting-perfectly-blue-box/