31 December 2018
The weekly Elliott Wave commentary with Targets and levels is published every Sunday to Subscribers, This is only an excerpt of our observations from recent publications.
MEDIUM TERM
NIFTY ELLIOTT WAVE UPDATE
The last post for the year ''Happy New Year'' to all readers. The chart below shows the Nifty closing below the 20 week average for many weeks despite 2 failed attempts above it. A third attempt is in progress. Failure to cross key weekly averages and retracements like 61.8%] have been seen in all previous bear markets over the last 20 years. I created this chart last week and at the end of the week we are still not above it in an expiration into the holidays, it
was the best chance to make the kill. Now we kick off a new year series once again watching how this noise will clear sooner than later. Not much has changed around the world either with the US remaining the worst performing market this month and most of Asia watching in hope. Today we close for the month, quarter and year and it will give us additional data points to talk of. READ MORE
