With the dollar up nearly 20% since December 2009, Robert Prechter put that number into context and offered his forecast for the U.S. currency on CNBC's Closing Bell. Watch the video excerpt below from his June 10 interview with host Maria Bartiromo to hear what he had to say about the dollar, the euro and the looming bear market.
Five minutes not enough insight from Robert Prechter? Get up to speed on Prechter's latest perspective by downloading this free report of some of his best nuggets directly from his Elliott Wave Theorist.
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Saturday, June 12, 2010
Wednesday, June 9, 2010
Shanghai Composite: Mark Galasiewski's view on Bloomberg
Bloomberg published a report on Mark Galasiewski's view on the Chinese market, calling for an end to the correction in the Shanghai Composite. Mark is the editor of the Asian Pacific Financial Forecast, at Elliott Wave International.
"May 31 (Bloomberg) -- A “correction” in Chinese stocks that has made them Asia’s worst performers this year may be nearing its end given the duration and degree of the slump, according to Elliott Wave International Inc. The current leg of declines in the Shanghai Composite Index has lasted 40 weeks, similar to an earlier stretch of gains, while the declines have amounted to almost half the magnitude of the previous rally, Elliott Wave said....."
Click here for the rest of the article.
"May 31 (Bloomberg) -- A “correction” in Chinese stocks that has made them Asia’s worst performers this year may be nearing its end given the duration and degree of the slump, according to Elliott Wave International Inc. The current leg of declines in the Shanghai Composite Index has lasted 40 weeks, similar to an earlier stretch of gains, while the declines have amounted to almost half the magnitude of the previous rally, Elliott Wave said....."
Click here for the rest of the article.
S&P500 short-term: Upwards towards 1140-1150
Hello folks! Last post on the SPX, called for a rebound towards 1100-1150, suggesting strong resistance around the 1100 area. SPX struggled just above 1100, and went back down looking for support. We may be about to embark on another corrective leg up now, towards 1140-1150. Here's the daily, with the path projection:
SPX seems to have descended in 3 waves since the 1220 high, A[1]. Looking for a 3-waver up towards 1140-1150, B[2] (and setup the right shoulder of the Head&Shoulders), before a possible 5-wave impulse down, C[3] into the 900s. Other variations are possible, but this, for now is my preferred scenario.
Very short-term hurdles at the red downtrendline, followed by 1100 level. A break below 1040 anytime, will bankrupt this projection.
All the best!
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