Elliott Wave Analysis by EWF

[Elliottwave-Forecast]

Medical Properties Trust is a real estate investment trust that invests in healthcare facilities subject to NNN leases. Founded in 2003 and headquartered in Birmingham, Alabama, USA, it is a part of S&P400 mid-cap index. Investors can trade it under the ticker $MPW at NYSE. The company owns 438 properties in the United States, Germany, Switzerland, Italy, Spain, Portugal, United Kingdom, Australia, Finland and Colombia. Also, trust owns equity interest in several healthcare providers.

Therefore, investors looking to invest both in real eastate and healthcare, obtain a great deal when buying $MPW.

Medical Properties Trust Monthly Elliott Wave Analysis 02.06.2023​

The monthly chart below shows the Medical Properties Trust stock $MPW traded at NYSE. From the all-time lows, the stock price has developed a cycle up in blue wave (I) of super cycle degree. It has unfolded as an Elliott wave leading diagonal pattern being 3-3-3-3-3 structure. Blue wave (I) has printed the all-time high in February 2020 at 24.29. After 5 waves higher in wave (I), the correction lower in wave (II) has developped a zigzag structure. Hereby, 3rd swing of the zigzag has reached 12.17-4.79 blue box area and the reaction is taking place. While above October 2022 lows at 9.90, $MPW might be in the initial stages of the the cycle in blue wave (III). The target for wave (III) will be 34.17-49.17 and even higher.

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Medical Properties Trust Weekly Elliott Wave Analysis 02.06.2023​

The weekly chart below shows in more detail the correction in blue wave (II) from the all-time highs towards the October 2022. First, red wave a has ended in March 2020 at 12.35 lows. Then, a connector in red wave b has printed a lower high in January 2022 at 24.13. From there, wave b has broken 12.35 lows opening up a bearish sequence. Finally, it has reached the 12.17-9.36 blue box area. There, reaction higher is taking place. Hereby, the descending trendline from January 2022 has been broken.

Investors and traders should stay long from 12.17-9.36 blue box area targeting 34.17-49.17 and even higher in the long-term.



Source: https://elliottwave-forecast.com/stock-market/medical-properties-trust-reacts-monthly/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of Microsoft ticker symbol: MSFT. We presented to members at the elliottwave-forecast. In which, the rally from the 06 January 2023 low unfolded as an impulse structure & showed a higher high sequence favoring more upside 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:

Microsoft 1-Hour Elliott Wave Chart From 2/06/2023​

Here’s the 1hr Elliott wave chart from the 2/06/2023 Midday update. In which, the short-term cycle from the 1/31/2023 low ended in wave (iii) at $265.15 high. Down from there, the stock made a short-term pullback in wave (iv) to correct that cycle. The internals of that pullback unfolded as Elliott wave zigzag structure where lesser degree wave a ended at $258.06 low. Wave b bounce ended at $264.60 high. And wave c managed to reach the blue box area at $257.41- $252.95 equal legs area. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

Microsoft Latest 1-Hour Elliott Wave Chart From 2/07/2022​

Above is the 1hr Elliott wave Chart from the 2/07/2023 Pre-market update. We can see the stock is showing a strong reaction higher right after ending the zigzag correction within the blue box area. This allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above $265.15 high would still be needed to confirm the next extension higher. Ideally towards the $267.60- $271.53 area which is the minimum extension target for wave (v).

Source: https://elliottwave-forecast.com/stock-market/microsoft-higher-high-sequence/

 

[Elliottwave-Forecast]

Hello Traders, in this article we will have a look on BTC/USD. You will see how we were able to forecast in advance the upcoming wave ((iv)) correction. Bitcoin is trading within a larger degree cycle that started from 11.21.2022. Current cycle appears to be within extended wave 3. Inside our members area we cover also 4 hour, Daily & Weekly charts. That will give you also a bigger context as where we stand in the cycle. Moreover, as day trading or position trading can be applied when trading our charts it is important for a trader to know and understand when the market is approaching a reaction point within a cycle. This can help with making better decisions as whether is good to take profits, move stop loss, enter trades etc.

Firstly, let's have a look on BTC/USD from 01.24.2023

BTC/USD 2H Chart 01.24.2023​

Bitcoin has been trading higher in a wave ((iii)). However, It had created a nest and was trading higher within v of (v) of ((iii)). At that point the market was getting closer to the end of wave ((iii)) and soon was expected to pullback in ((iv)).
Fast forward, a couple of days later here is what happened.

BTC/USD 2H Chart 02.06.2023​

Bitcoin has ended as expected wave ((iii)) and pullback in ((iv)) played out as a flat correction within wave ((iv)). Soon it expected to make the next and final move higher in ((v)) to end wave 3 in red. By having the information and expected path beforehand in mind traders can make better decisions with their trades. This is one of the many advantages and benefits members get at Elliott Wave Forecast. Apart from the charts you can see Daily technical videos, Live Analysis sessions in which you can ask questions in real time. Live trading room is also available in which we discuss trading ideas using our system. Learn to trade the right side and anticipate the next move in the market today.

Source: https://elliottwave-forecast.com/cryptos/btc-usd-forecasting-elliott-wave-iv-correction-in-bitcoin/

 

[Elliottwave-Forecast]

#TRAN (Dow Jones Transportation) is trading in an interesting swing sequence. It shows five swings advance in Grand Super Cycle degree. The idea that five waves or swings develop from the all-time lows make the sector bullish overall. However, we favor a nest, a series of I-II with a higher extension still to come. A nest is shown in the chart below:



As we can see in $TRAN chart below, the instrument creates a series of higher highs and lower high with market continues to break higher. After the extension, it should do a series of IV-V.

Quarterly $TRAN Elliott Wave Chart​

The quarterly chart above shows the nesting with the labeling and the strong reaction from the Blue Box area in 2020. If this is the case, then we are trading within wave (1) of ((3)) of III, and the separation should happen after the cycle off the lows at 07.2022 ends. A nest will suggest a huge rally across the Sector. Here is an article from 2020 showing the Blue Box area and more upside is expected.

The second possible path is that the Sector will do two more highs within the Grand Super Cycle, and the pullback in 2020 was a red wave IV. In this case, the Sector is trading within a regular five waves advance and now entering a wave five, but it should still be supported. The extension from red II to red III makes a case for wave V taking place and new all-time highs. The chart below illustrates this alternate path

Alternate $TRAN Quarterly Elliottwave Chart​

The quarterly chart above shows the Impulse idea and how the Sector will extend within a wave V red, and consequently another wave (IV) and wave (V) will come.

The third possible outcome is that the Index has ended the Grand Super Cycle and will now enter a correction that will take years. We at EWF do not support that view for many reason. One of the reasons is $FTSE Grand Super Cycle does not allow labeling to call it completed. Secondly, pullback in the Airlines and Cruises sectors, which is very deep and does not allow more downside. Please, watch the following seminar to understand the idea.

In conclusion: The Sector is showing five swings within the Grand Super Cycle and should remain supported. We are favoring the nest due to Indices like $FTSE and the correlation with Airlines and Cruises. Buying the dips against the low at 07.2022 might provide an excellent buying opportunity.

Source: https://elliottwave-forecast.com/st...n-the-sector-should-be-soon-extending-higher/

 

[Elliottwave-Forecast]

Kohl's stock trades on NYSE under ticker KSS and has been public since 1992, showing growth and fluctuations.

Kohl's Corporation operates over 1,100 US department stores and is based in Wisconsin. The company was founded in 1962 and faces growing competition from online retailers. It's adapting to the changing retail landscape by expanding online presence and partnering with Amazon for returns.

Despite these efforts, Kohl's stock has underperformed compared to the overall market in recent years specifically since it's peak in 2018. As we can see in the weekly chart of KSS, the stock suffered a significant decline 86% from it's 2018 peak wave ((I)) which was a technical corrective Elliott Wave zigzag structure (a)(b)(c) finding major support at equal legs area ( blue box ) 19.32 - 9.87 in April 2020 to end wave ((II)).

Since then, KSS managed to establish an Impulsive 5 waves advance in wave (I) followed by another 3 waves correction in wave (II) ending in December of last year. Based on these structure, we can understand that weekly declines were corrective structures. The stock curved a Macro bottom in the recent years preparing it for the next weekly rally and it's expected to take it to new all time highs.

Kohl's Corporation KSS Elliott Wave Weekly Chart​

Coming from December 2022 low 23.38, KSS rallied within an impulsive structure wave ((1)). The move suggested that correction has ended and a new cycle has started. Consequently, the stock can establish a new rally to the upside as long as the next pullback of wave ((2)) remains above that low to create the rest of the impulse in wave (I).

Kohl's Corporation KSS Elliott Wave Daily Chart​

Kohl's may offer long-term growth for investors. It has a stable financial performance, with revenue around $19B and modest net income. Kohl's underperformed in recent years but has adapted to the retail landscape changes, which is reflected in its stock performance based on the Elliott Wave structure.

Source: https://elliottwave-forecast.com/stock-market/kohls-corporation-kss-macro-bottom/

 

[Elliottwave-Forecast]

In this technical blog, we will look at the past performance of 1-hour Elliott Wave Charts of NVDA. We presented to members at the elliottwave-forecast. In which, the rally from the 28 December 2023 low unfolded as an impulse structure. And showed a higher high sequence 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:

NVDA 1-Hour Elliott Wave Chart From 2/05/2023​

Here’s the 1hr Elliott wave chart from the 2/05/2023 Weekend update. In which, the short-term cycle from the 1/31/2023 low ended in wave 1 at $219.49 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 zigzag structure where wave ((a)) ended at $207.89 low. Wave ((b)) bounce ended at $217.45 high. And wave ((c)) managed to reach the blue box area at $206.04- $2198.85 equal legs area. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

NVDA Latest 1-Hour Elliott Wave Chart From 2/10/2023​

Above is the Latest 1hr Elliott wave Chart from the 2/10/2023 Post-market update. We can see the stock is showing a strong reaction higher right after ending the zigzag correction within the blue box area. This allowed members to create a risk-free position shortly after taking the long position at the blue box area. It already made a new high above $219.49 high & confimred the next extension higher. Now as far as it remains above $206.04 low another new high towards $237- $245 area is expected to take place before entering into another pullback.

Source: https://elliottwave-forecast.com/stock-market/nvda-blue-box-offered-buying-opportunity/

 

[Elliottwave-Forecast]

Nio Inc. (NIO) is a Chinese multinational automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric vehicles. The company develops battery-swapping stations for its vehicles, as an alternative to conventional charging stations. The company has raised over $5 billions from investors. In 2021, it plans to expand to 25 different countries and regions by 2025.

NIO Daily Chart December 2022​

NIO has been falling since early days of 2021. Since then, the market has developed a corrective zig zag structure (a), (b) and (c), of the Elliott Wave Principle. Currently, the stock is close to finish wave (c) the last leg of the zig zag correction and this would trigger a long-term price rally. Above we can see NIO's daily chart of December 2022. We waited for one more low to end an impulse and complete wave (c) and wave ((II)) of the zig zag correction before starting a new rally.

NIO Daily Chart February 2023​

At the beginning of December, NIO turned lower as expected. The January 2023 volatility broke the wave ((4)) high at 14.03, but the move was immediately rejected by the market. This suggested that this breakout is still part of wave ((4)) ending at 14.36. We expect the stock to continue its bearish movement and break wave ((3)) low at 8.28. Once the market breaks this level it will give us a buy signal. We believe that the ideal area to buy is in 7.05 - 4.80 zone, which is where the wave ((II)) should end and continue the uptrend.

Source: https://elliottwave-forecast.com/stock-market/not-buy-nio-breaks-october-low/

 

[Elliottwave-Forecast]

Hello Everyone! In this technical blog, we are going to take a look at the Elliott Wave path in the 20 Year Bond ETF ($TLT).

The iShares 20+ Year Treasury Bond ETF seeks to track the investment results of an index composed of U.S. Treasury bonds with remaining maturities greater than twenty years.

$TLT 4H Elliott Wave Analysis Feb 12 2023:​

The 4H chart above is showing the path in $TLT since Oct 2022 lows. The ETF is favoured to have struck a low at $91.85 and bounced in 5 waves. After completing the 5 waves, a pullback to correct that cycle took place and ended at red II. Since that low, another 5 wave rally took place and broke above the red I peak creating a bullish sequence. So far, the cycle from Dec lows ended and a 7 swing (WXY) pullback is taking place. Due to the bullish sequence and as long as the lows at $91.85 hold, we expect buyers to appear at the Blue Box area at 101.02 - 97.54.

Source: https://elliottwave-forecast.com/st...suggests-20-yr-bond-etf-tlt-remain-supported/

 

[Elliottwave-Forecast]

Silver Miners ETF (SIL) has ended the correction to the cycle from March 2020 low on Sept 26, 2022 low at 21.26. It has started to rally the next leg higher. However, it formed intermediate high on January 26 at 31.9. It 's now pulling back to correct cycle from Sept 26 low in larger degree 3, 7, or 11 swing. We will take a look at the Monthly and Daily Elliott Wave count below to see what we can anticipate in the near term and long term.

SIL (Silver Miners ETF) Monthly Elliott Wave Chart​

Monthly Elliott Wave chart of SIL suggests that the ETF has ended wave ((II)) at 14.94 in 2016. From there, it rallies in a series of I-II-((1))-((2)) which is a nest structure. Up from wave ((II)), wave I ended at 54.34 and pullback in wave II ended at 15.72. It rallies again in wave ((1)) towards 52.87 and dips in wave ((2)) ended at 21.26. As far as SIL stays above 15.72, expect the ETF to extend higher again.

IL (Silver Miners ETF) Daily Elliott Wave Chart​

Daily SIL (Silver Miners ETF) Chart above suggests the ETF has ended wave ((2)) at 21.26. This is at the 100% - 161.8% Fibonacci extension of (W)-(X) from 8.5.2020 high. It has started to turn higher from the blue box area and ended wave 1 at 31.90. Pullback in wave 2 is now in progress to correct cycle from 9.26.2022 low in 3, 7, or 11 swing before the rally resumes. As far as dips stay above 21.26, and more importantly above 16.05, expect the ETF to extend higher.

Source: https://elliottwave-forecast.com/stock-market/silver-miners-etf-sil-looking-rally-higher/

 

[Elliottwave-Forecast]

Hello Traders in this blog we will see how CL_F Crude Oil Futures found support from equal legs area and reacted higher within wave 2. Many traders are wondering whether Crude Oil will still trade lower or higher after it's larger degree peak it made from March 7th, 2022. In this article we will only look at the near term 1 hour cycle. Here at Elliott Wave Forecast we teach our members how the market is trading in our age. Elliott Wave is just the language we use to determine a cycle.
These days high frequency computers are moving the market most of the time. We call these high frequency trading areas, equal legs and blue boxes. Let's now have a look at Crude Oil and see within it's short term 4 hour cycle where it was going.

CL_F 4 Hour 02.04.2023 Weekend Update Update​

It was apparent that cycle from 12.09.2022 ended wave 1 and started to pullback. After completing the first leg lower in ((w)) and bounced in ((x)) we can then calculate the reaction area lower. In this case equal legs area goes from 73.59 - 69.82 in which in was reached and reacted higher as we will see. These equal legs areas of the market is where we are expecting a reaction with an 85% chance. This is where buyers and sellers agree to a reaction.

CL_F 4 Hour Weekend Update 02.11.23​

And as seen above it moved higher and already ended wave ((i)) of 3. Pullback in ((ii)) is in place and moved higher in (i) of ((iii)). Next it expects pullback in (ii) before next move higher in (iii) of ((iii)) of 3. You can learn what's next for Crude Oil as well as the longer term view by becoming a member here at Elliott Wave Forecast. You can learn how to trade the right side and when to enter and/or exit the market. Alongside with daily Live Analysis Sessions & Live Trading Room. On top of that we have a 24 hour live chat and chat room in which we answer any questions for each instrument. Click the links below to sign up or try first our 14 day trial.

Source: https://elliottwave-forecast.com/el...l-futures-found-support-from-equal-legs-area/

 

[Elliottwave-Forecast]

Energy Fuels is the largest US miner of the uranium. It produces the uranium both in form of triuranium octoxide and uranium hexafluoride. Besides the core business, the secondary products of Energy Fuels are rare earth elements and vanadium. Founded in 2006, the company has its headquarters in Lakewood, Colorado. One can trade it under the ticker $UUUU at the New York Stock Exchange. Investors in shares of the mining company are participating, therefore, in the company success story on the one hand and in the price development of the uranium commodity on the other.

Currently, we expect a new bullish cycle within the energy commodities like oil, gas, coal and others. Consequently, uranium should turn higher as well. Besides the market correlation in the energy group, the pattern of $UUUU shows a turn higher after 13 years of depressed prices in monthly charts as well. Moreover, weekly chart shows an initial nest from March 2020 ended and a new bullish leg in progress. In the current article, we discuss the pattern of Eneregy Fuels and provide with targets medium-to-long term.

Energy Fuels Monthly Elliott Wave Analysis 02.13.2023​

The Monthly chart below shows the Energy Fuels shares $UUUU traded at NYSE. First, the stock price has developed a cycle higher in black wave ((I)) of grand super cycle degree. It has printed the all-time highs on April 2007 at 240.61. From the highs, a correction lower in black wave ((II)) has unfolded as an Elliott wave zigzag pattern. It has printed an important bottom on March 2020 at 0.78.

From March 2020 lows, a new cycle in wave ((III)) has already started and should extend towards 240.61 highs and beyond. Then, the target for wave ((III)) will be towards 242.03-391.07 area and even higher.

Energy Fuels Weekly Elliott Wave Analysis 02.13.2023​

The Weekly chart below shows the $UUUU shares price action in more detail. The stock has ended the red waves I-II building a nest for the blue wave (I) of the black wave ((III)). First, the cycle higher from March 2020 in red wave I of blue wave (I) has ended in November 2021 at 11.39 highs. From the peak, a correction in wave II is has unfolded as a regular flat pattern being 3-3-5 structure. First, black wave ((A)) has ended in January 2022 at 5.46 lows. Then, a connector in black wave ((B)) has printed a lower high in April 2022 at 11.00. From there, wave ((C)) has broken 5.46 lows opening up a bearish sequence. Finally, it has reached the 5.06-1.39 blue box area. There, reaction higher is taking place. Now, while above July 2022 lows at 4.69, $UUUU might be in the initial stages of the red wave III. The target will be 15.34-21.91 and even higher.

Investors and traders should stay long from 5.06-1.39 blue box area targeting 15.34-21.91 area in medium-term and 242.03-391.07 area in the long run.



Source: https://elliottwave-forecast.com/stock-market/energy-fuels-weekly-blue-box/

 

[Elliottwave-Forecast]

It is very well-known around the trading community that we at EWF has always been very bullish on the World Indices. With every dip over the years, we have been telling members to buy. However, we run a system that provides a warning this time. The Elliott Wave Theory is known for providing alternate views. This is the reason why we have added more rules and tools to filter the views.

Please watch this video to see how we were able to buy the dips in 2020 even when the Theory might have been calling for another leg lower. It was evident at that moment and the whole market was in complete agreement. At that moment, the $USDX was ready to sell, and the YEN pairs were ready to buy. In other words, it was the perfect time across the Marketplace. Here is the chart of the $USDSGD and GOLD to Silver Ratio.

$USDSGD Weekly Elliott Wave Chart Sends Warning to World Indices​

Back in 2020, the market suggested $USDX weakness because the $USDSGD was within the 100% area off the lows at 01.22.2018. As expected, the pair sold off, keeping $USDX weakness and therefore Indices higher. The AUG (Gold-Silver ratio) was also trading within the Blue Box area and expected to drop, supporting yet another $USDX weakness.

Gold-to-Silver Ratio Quarterly Elliott Wave Chart​

Quarterly chart above shows the ratio is trading within the Blue Box area and expected to drop. This also supports the idea of USD weakness and therefore higher Indices.

Most of the World Indices dropped in three waves from the all-time high. However, the alignment is not there at this time for Indices to extend higher. The Elliott Wave Theory corrective sequence runs in 3-7-11-15-19 swings. The idea that three waves ended off the peak at 2021 or 2022 does not mean the Indices can not extend lower in 7 swing.

We will use the same instruments explained above and show where they stand now. We will find out why we need to be very smart this time around. As the weekly chart below shows, the $USDSGD is trading within the 100% extension since the peak at 03.2020.

$USDSGD Weekly Elliott Wave Chart​

The chart above sends a warning for the $USDX shorts. $USDSGD chart says it is at a risk of a bounce minimum to correct cycle from 09.2022. If it extends the rally higher further to correct larger degree, Indices can be under pressure. That's why we need to be smart with the Indices, We don't question that the trend in World Indices is bullish. Sooner or later, they will trade to new highs. But there's yet not 100% alignment with the other asset group, thus why we need to be careful.

Gold-to-Silver Ratio Daily Elliott Wave Chart​

The daily cart above shows the current stage of the Gold/Silver ratio. At this moment, it is not saying much. The ratio can either do a double higher off the 01.2021 lows or extend lower from 03.2020 high. If it extends lower from 3.2020 high, the Indices might have a low in place and ready to resume higher. But if the ratio does a double higher, then Indices can extend lower again and $USDSGD extends higher.

The Elliott Wave Theory provides many structures, and the FLAT is the tricky one to spot. Due to the nature of the five waves off the lows, many wavers will run and overreact to the five waves' advance.



The graphic above shows what a Flat structure looks like in the Elliott Wave Theory. Typically it happens that when the last low (wave B in the graphic above) is only marginal and does not reach the 100% extension from the peak. The last low also comes with divergence. When this conditions presents, there is always a chance for the Flat structure. Despite what looks to be an impulsive move higher off the low in World Indices, if USDSGD extends higher and Gold-to-Silver ratio does a double higher, then World Indices can do a flat and then extends lower in a double correction from 2021 / 2022 peak.

In conclusion, World Indices are reacting higher in an impulse way. This should be taken into consideration for the next few weeks and months. Still, at the same time, the perfect timing is not there as USDSGD reaches 100% from 3.2020 high. Unlike in 2020, we cannot deny the possibility of the Flat or seven swings lower in Indices. The Elliott Wave Theory is subjective and our system is better. Right now, we need to be smart and let the market makers decide until more data. Being smart means trading the impulse off the lows at either September/ October 2022. But understand Indices are part of the Market, and the $USDSGD timing sends a warning.

Source: https://elliottwave-forecast.com/stock-market/world-indices-time-to-be-aggressive-or-smart/

 

[Elliottwave-Forecast]

Honeywell International Inc., (HON) operates as a diversified technology & manufacturing company operating globally. It is working in different segments like Aerospace segment, Building technology segment, Performance materials & technologies segment, Safety & productivity solutions segment etc. It is based in Charlotte, NC, comes under Industrials sector & trades as “HON” ticker at Nasdaq.

HON made low of $101.08 on 3/23/2020 during global sell-off. Above there, it confirms higher high sequence as impulse wave I ended at $236.86 high. It finished zigzag correction in wave II at $166.63 low in blue box area. Currently, it favors higher in III & needs to breaks above I high, to confirm the sequence.

HON - Elliott Wave Latest Weekly View:​

​

It ended ((1)) at $147.87 high & ((2)) at $117.11 low. ((2)) was 0.618 Fibonacci retracement of first leg. Above there, it started third wave extension. It favored ended ((3)) at $234.02 high & ((4)) at $211.96 low. ((4)) was 0.236 Fibonacci retracement of third leg. Finally, it placed ((5)) at $236.86 high as wave I on 8/02/2021 high. Below there, it favored ended zigzag wave II on 9/30/2022 low. It placed ((A)) at $198.10 low & ((B)) at $221.89 high. Finally, it ended ((C)) leg as diagonal in blue box area at $166.63 low as wave II.

HON - Elliott Wave Latest Daily View:​

​

Above wave II low, it favored ended ((1)) at $220.96 high & correcting in (C) of ((2)) before upside resumes. It ended (1) at $179.77 high & (2) at $169.22 low. While above there, it favored ended (3) at $216.23 high & (4) at $212.02 low. It placed (5) at $220.96 high as ((1)). Below there, it favors correcting ((2)) before upside resumes. It placed (A) at $204.06 low & (B) at $217.22 high. Currently, it favors lower in 5 of (C) & expect downside below wave 3 low. It expects (C) to finish between $200.53 – $190.13 area before upside resumes in ((3)) or at least can see 3 swing bounce. Buyers from blue box area should remain long for further upside.

Source: https://elliottwave-forecast.com/stock-market/hon-honeywell-impulsive-sequence-favors-upside/

 

[Elliottwave-Forecast]

Hello fellow traders. In this article we’re going to take a quick look at the Elliott Wave charts of FTSE, published in members area of the website. As our members know FTSE is showing bullish sequences in the cycle from the October's 6708.6 low. Consequently we expected further rally to continue.We recommended members to avoid selling the index, while keep favoring the long side. In the further text we are going to explain the Elliott Wave Forecast.

FTSE Elliott Wave 1 Hour Chart 02.06.2022​

FTSE remains bullish against the 7708.69 pivot in first degree. We believe wave ((v)) is still in progress, when now we ended (ii) of ((v)). We expect to see Elliott Wave Ending Diagonal potentially, so structure should be 5 waves up from the 7708.69 low. Buyers should ideally appear for the further rally toward new highs.

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

FTSE Elliott Wave 1 Hour Chart 02.09.2022​

FTSE found buyers and made rally toward new highs as expected. Structure still looks incomplete. So far we can count 3 waves, so another leg up would be ideal to have clear 5 waves in Ending Diagonal. We believe that FTSE is about to end wave (iv) of ((v))). If holds the current low and makes turn higher from current levels, it can see approximately 7950 area before 3 waves pull back takes place. After proposed pull back, we expect to see continuation higher again.

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts with target levels 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



Source: https://elliottwave-forecast.com/stock-market/ftse-elliott-wave-bullish-sequences/

 

[Elliottwave-Forecast]

Walt Disney shares have been trading lower since they peaked on 03.08.2021. Since then, the symbol has been doing a WXY structure which comes with seven swings. This structure most of the time ends when the W equals the Y in relation to X.

WXY Double Three Elliott Wave Structure​

It represents a WXY within the Elliott Wave Theory and all the information can be found at this page. The market has changed over the years and computers have played a role in today’s trading. We call those High-Frequency areas and show them on the chart with the Blue Box. Blue Boxes are areas where the two sides of the Market ( buyers and sellers) agree to a reaction.

These areas are based on a combination of the market nature, extension, and sequence. Many traders are guilty of entering the market in a stage that we call the middle. They suffer losses because knowing the area where both sides agree is the key. Blue Boxes have a 85% chance to produce a bounce only when a cycle ends at a higher degree and a new counter trend cycle start. Then, a five waves decline can happen, making the box fail but then providing another chance at a higher degree.

Getting back to DIS, the symbol ended the Grand Super Cycle and produced a seven-swing structure with a target of $83.89-$66.51 area.

Weekly Disney Elliott Wave Chart​

The above chart shows the decline, and it is easy to identify the seven swing structures, which we label as wxy. . We can see in the chart the blue box area and how the sellers were able to make a profit at the Blue Box. However, more importantly, the intelligent buyers were able to enter at the right level, which was the top of the Blue Box at $83.89.

Since reaching the blue box, the symbol has reacted impulsively. We expect further upside which can take the symbol into the $286.00 area in years to come. The Elliott Wave Theory, together with the High-Frequency Trading recognize cycles. The idea that the correction from 2012 until the lows in 2023 was the Grand Super Cycle makes us believe that at one point, the symbol will break the 2021 peak. The next target blue box to the upside will come at $286.00. The target is a long way from the current levels, but the plan is very clear. It is time to buy the dips instead of selling the rallies.

In conclusion, the market has changed. Using the Elliott Wave Theory tools in relationship with the High-Frequency Trading Machines is the way to go. The system provides a straightforward entry and also a target and provides a lovely and reliable timing to trade the market. It's much better than the Theory as originally developed in the 1930s.

Source: https://elliottwave-forecast.com/st...-a-huge-rally-into-286-00-might-have-started/

 

[Elliottwave-Forecast]

Caesars Entertainment, Inc. (CZR) operates more than 50 hotel and casino properties in the United States, making it a major player in the industry. The company is publicly traded on the NASDAQ exchange under the ticker symbol CZR. As with any hospitality company, its stock price can be subject to volatility, presenting opportunities for investors to profit from price fluctuations.

Our article will analyze the recent movements of Caesars Entertainment, Inc.'s (CZR) stock price by utilizing Elliott Wave Theory on the daily chart. Through this approach, we aim to provide a comprehensive overview of the current price action to help investors make informed decisions.

Despite being trapped in a sideways range since last summer, CZR investors should recognize that bottoming out can be a time-consuming process, especially after the stock has experienced a more than 70% decline in the past year. However, since hitting a low of 31.31 in October 2022, the stock has managed to surge by 80%, with the price action unfolding as follows:
CZR initially rallied within an impulsive 5-wave structure in wave ((1)), followed by a 3-wave pullback in wave ((2)). The stock then went on to achieve a new high last month, breaking above the peak from December, which has opened up a bullish sequence from its October low.

Based on the bullish structure, CZR's short-term pullback is more likely to find support at the 50%-61.8% Fibonacci retracement levels (48.21-46.2). If the stock stays above its December low of 39.7 and buyers show up as expected, the next daily rally will ideally take the stock toward an initial target of 63.16 and a potential extension toward 77.72.

Caesars Entertainment (CZR) Elliott Wave Daily Chart​

To conclude, Caesars Entertainment's stock (CZR) has displayed a promising trend recently, indicating potential for future growth in the near term. Although the stock has experienced significant declines in the past year, the current Elliott wave structure suggests that it may find support and potentially increase in value, leading to a positive upward trend. However, investors must conduct their due diligence, evaluate risks and rewards, and carefully consider all relevant factors before making any investment decisions.

Source: https://elliottwave-forecast.com/stock-market/caesars-entertainment-czr-resilience/

 

[Elliottwave-Forecast]

Novo Nordisk A/S (NVO), a healthcare company engages in the research, development, manufacture and marketing of the pharmaceutical products worldwide. It operates in two segments, Diabetes & Obesity care & Biopharm. It is based in Denmark, comes under Healthcare - Biotechnology sector & trades as “NVO” ticker at NYSE.

NVO is showing higher high clear impulse sequence in over the years. So, it expects to remain supported in 3, 7 or 11 swings at extreme areas in pullback. Currently, it favors correction in ((2)) of V of (I) before turning higher in ((3)) of V.

NVO - Monthly Elliott Wave Latest View:​

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It placed wave ((I)) at $60.34 as Grand super cycle in 2015 & ((II)) at $30.89 low in 2016. Above there, it favors higher in (I) of ((III)). It favored ended I of (I) at $58.37 high & (II) at $41.23 low as 0.618 Fibonacci retracement. Above there, it extended higher in third wave extension, ended at $122.16 high. Wave IV finished at $95.02 low as slightly above 0.382 Fibonacci retracement. Currently, it favors higher in V as it already confirms higher high sequence.

NVO - Weekly Elliott Wave Latest View:​

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In wave V, it placed (1) of ((1)) at $106.43 high & (2) at $100.89 low. Above there, it favored ended (3) at $139.05 high as third wave extended wave & (4) at $130.10 low. Finally, it ended (5) as ((1)) at $144.78 high & correcting in ((2)) in 7 or 11 swings towards $130.04 - $121.70 area before upside resumes in (1) of ((3)) of V. Alternatively, it may ended ((2)) at $131.17 low & favors higher in (1) of ((3)) of V or else, it may do double in ((2)) correction before turning higher in ((3)).

Source: https://elliottwave-forecast.com/stock-market/nvo-impulsive-sequence-favors-upside-remain-supported/

 

[Elliottwave-Forecast]

Hello Everyone! In this technical blog, we are going to follow up on our initial article from October 2022 and take a look at the Elliott Wave path in ARK Innovation ($ARKK).

$ARKK – Elliott Wave Old View Oct 2nd 2022 (Daily):​

In our initial article from October 2022, we were expecting the ETF to trade lower in 5 waves to reach $30.30 – 23.03 where buyers can appear for a reaction higher and finish ((5)) of c of (II).

$ARKK – Elliott Wave Latest View Feb 19th 2023 (Weekly):​

$ARKK – Elliott Wave Latest View Feb 19th 2023 (Daily):​

Since October 2022, the ETF has been trading lower as expected. It reached the 1.236 - 1.618 inverse fib level at $30.30 - 23.03 and found buyers on December 28th, 2022. Looking at the reaction from 12/28/2022 low, we can see that the pivot on August 2022 has given up indicating that the cycle from all time peak has ended. As long as the low at $29.43 holds, we expect buyers to appear at dips in 3, 7 or 11 swings. To conclude, ARKK is still in the initial stages of this rally and should remain supported in pullbacks. Remember, we are in a Transitional Market and this can be a generational opportunity for early investors.

Source: https://elliottwave-forecast.com/stock-market/ark-innovation-arkk-bottomed-ready-rally/

 

[Elliottwave-Forecast]

Shopify Inc. is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. Shopify (SHOP) is the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems. The Shopify platform offers online retailers a suite of services including payments, marketing, shipping and customer engagement tools.

SHOP Daily Chart February 2023​

Shopify ended a Grand Supercycle in July 2021 and we labelred as wave ((I)). Since then, It entered in a flat correction as wave ((II)). Three swings drop ended at 128.46 as Wave (a). Then market breaks above 164.88 in another 3 swings suggesting a possible flat correction and we labeled wave (b) at 176.49. Dowm from this price, SHOP built a perfect impulse lower completing a big short at 23.75 and we labeled as wave (c) and also wave ((II)). Market bounced from this low and we are expecting to continue higher to reach 2021 prices again.

SHOP 4H Chart February 2023​

Since rally, SHOP has made 4 swings higher and it needs one more higher to complete a leading diagonal from 23.75. Wave ((1)) ended at 45.08. Wave ((2)) zigzag correction ended at 32.36 and resume the uptrend. 5 swing higher it completed an impulse at 54.68 as wave ((e)) and currecly we are developing wave ((4)) lower. Wave ((4)) could be done at 42.91, but we cannot rule out more downside before a bounce. Near term, we are expecting to break 54.68 higher to complete a leading diagonal as wave I. Then, we should see a pullback in 3, 7 or 11 swings before a new rally begins. The view is valid as Shopify stays above 23.75.

Source: https://elliottwave-forecast.com/stock-market/shopify-shop-rally-fail/

 

[Elliottwave-Forecast]

In our previous article, we mentioned that Uranium ETF (ticker URA) has ended correction to the cycle from 2020 low and ready to resume higher. In this article, we will update the outlook for the ETF. We see the commodity complex forming a high on early February 2023 and pulling back. We see further pullback in $URA in near term before it is ready to resume higher again.

$URA Elliott Wave Chart Monthly Chart​

Uranium ETF (URA) Monthly Chart above shows a horizontal support/resistance at $19. The ETF so far continues to hold above that level, which is a good sign. Since it bottomed on March 1, 2020 low along with other World Indices, it has started to rally in what we call as a 5 waves. We label the bottom on March 1, 2020 low as wave ((II)) at 6.95. Up from there, the ETF starts a new bullish leg with wave I ended at 31.6 and pullback in wave II ended at 17.65. While it stays above 17.65, expect the ETF to continue higher in months to come.

$URA Daily Elliott Wave Chart​

While the major low in ETF came at 6.95 on March 2020, daily Elliott Wave Chart of Uranium ETF (URA) above shows that the ETF possibly has formed a secondary low at 17.65. We label this secondary low as wave II. From there, it has rallied higher in a series of nest. Up from wave II, wave (1) ended at 24.34 and pullback in wave (2) ended at 18.47. The ETF extends higher again in wave 1 at 21.33 and wave 2 ended at 19. The last high on February 2 was a wave ((i)) at 23.86. Expect a pullback in wave ((ii)) to continue to reach the extreme area of 19.25 - 20.66 before the ETF extends higher again. As far as wave 2 low at 19 holds, dips should find support in 3, 7, or 11 swing for further upside.

Source: https://elliottwave-forecast.com/stock-market/uranium-etf-ura-pullback-progress/