A 5 wave Decline in Global Eq

Published: Fri, 05/17/19

The Truth About The Markets

+ A 5 wave Decline in Global Equities

Ahead of the Election Results the Global set up for Equities and stocks like Reliance Industries have developed a 5 wave decline giving an advance indication of what is coming up. Apart from the psychological fear of a potential spike up on an Election win by the incumbent party the markets are already setting up for a global equity market sell off with 5 wave declines across the board. Take a look and think.

S&P 500

US stocks are set up for a last push higher then start a larger third wave down. This leaves little time for what indian or other world markets want to do, if true. Asian markets have not even started wave 2 up.

snp170519

Jakarta

The push became a shove in Asian markets that have continued to fall after being pushed over by the US turmoil, not responding to the recent bounce in US stocks. Jakarta is now in wave v of an impulsive decline with RSI at 20, when complete it will hopefully give a quick wave 2 move up, but the larger trend could now be down.

jakarta 170519

Taiwan

Taiwan on its way to complete the first 5 wave decline after a relentless rally since Jan.

taiwan 170519

Hang Seng

Hong Kong 5 waves down done.

hsi 170519

Karachi

Karachi - is already deep into a bear market. Wave C down started months ago. C=A goes to the next major swing level shown below but larger degree wave C crashes do not just end at equality and it will extend. Worse it also leads to geopolitical disruptions. Either local or national. So do not rule out an increase in border tensions if this goes on.

karachi 170519

CAC 40

CAC 40 - a possible 5 wave decline in France

cac 170519

Reliance Industries

RIL hourly charts show a 5 wave decline followed by an a-b-c advance where a channel for the a-b-c move draws to 1300 amd c=a near 1304. Wave 2 up can do that much at least. However by retracement theory 50% is at 1322 and 61.8% is at 1344. A 3 wave move to 1304 or 1317 would end below the daily averages and that is normal, a larger move is not necessary though open.

ril 170519

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Rohit Srivastava
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