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Wednesday, December 3, 2014

Elliott Wave Update ~ 3 December 2014

A lot of our counts have been working fairly well. Take oil for instance:
And Gold is bouncing,
In the long term the GDOW count looks good:
And the short term:
Even bonds have behaved to the count decently:
The dollar has smashed through long term resistance.
I anticipate that the 6 month yield count will also smash through resistance in due time.  This will be the big shocker to the system in my opinion. We can get away with a GDP/debt ratio of 100% as long as rates are low but if rates rise - even just a little, its game over and deflation will roar and bankruptcies will come fast and furious.
All that's left is the US indexes. The SPX weekly:

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