BSE Consumer Discretionary

BSE Consumer Discretionary index fits a nice rising channel which would indicate that wave 5 up is due next and the decline is mostly over. For the entire list of 212 stocks go Here

Nifty Video Update

Nifty wave 2 ended at 78.6% retracement and wave 3 up started. 12150 crossed we should head to 12400 first. 1.25 mins

https://screencast-o-matic.com/watch/cYVQiqvytx

Dollar Index

Yesterday I discussed one possible pattern for the dollar index that is like a leading diagonal. But if I look at the daily chart upside down it can be quite different. We could be in wave 2 of 3 now and near the previous swing low near 97.17 and the next wave lower. Wave 3 of 3 up should be next on this chart, which means a major decline in the dollar [remember this is an upside down chart so up means down].

US 30 Year Treasury Bonds

US 30 year bonds are breaking lower again from the trendline of all the highs since the Aug top. Eventually we should start a major 5 wave decline, and I have marked wave at the recent high after what looks like a triangle at the top. So right after the risk of on war bonds should start a decline on the back of a rising stock market reflecting the risk off mode.

Silver

Enough bearish talk about precious metals if the dollar index does start a 3rd of third wave lower then I would simply mark the recent high as wave I of 5 for gold and silver and expect III of 5 next. Why? Because when I look back at the last gold bull market it was highly correlated to the dollar bear market and to get a major sell off in this environment is difficult. The correction on the back of reduced geopolitical risk is then priced in as well. Watch closely at what the dollar does to position myself accordingly.

Nifty Medium Term

10 Jan 2019

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 

While you were sleeping the Midcap Indices paid no heed to the IRAN-US dispute and held their own, only to pace higher breaking out of the 2 year long down trending channel. The breakout is significant as it ends a bear market in the Mid and Small Caps that most still do not believe given that they bled on the way down holding onto them. The panic attack in the Nifty on Monday therefore saw smaller losses in the broad market that did not make a new low relative to the bank nifty as most of the selling had already been absorbed. I can say that .....  READ MORE 

 LONG TERM  

THE LONG & SHORT REPORT :- The Long Short Report is a market timing report looking at the Long term and Medium term trends developing Across asset classes from Nifty  to Gold, USDINR, Dollar index, Dow, S&P, Commodities, Interest Rates and a total market perspective in light of the Long wave cycle and what stage of the cycle we are in.

Long term Perspective and Basis: 

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