Ewj: elliott wave

INDU, SPX and NASDAQ followed TRAN and UTIL DOWN as expected.
RSIs and MACDs gave SELL Signals.
This may be just the beginning?

 

$USD UP and $XEU DOWN as expected.
RSIs and MACDs gave BUY and SELL Signals accordingly.
$USD measured move target = 80.7 near MA(200).
$XEU measured move target = 126 near MA(50).
Gold and Silver not DOWN yet, but the "Big M" patterns are forming.
RSIs first SELL Signals may not be a true SELL Signals.
MACDs SELL Signals are more reliable.
Sometimes Golden Cross coincides with top.
Crude Oil cut both MA(200) and MA(50) DOWN.
Measured move target = $86

 

I'm watching 10/5 10/8, hoping the stocks rally until then and make a turn.

 

Only Crude Oil went DOWN to near measured move target (87.5$ vs $86).
$USD and $XEU may go into Wave .3 or Wave c to near measured move, where MA(50) and MA(200) may cross.
Gold showed Ending Diagonal.
Silver showed set up for the "Big M" pattern.

 

Wave 5 in most indices.
The "Big M" patterns in INDU and SPX.
Shooting Stars in INDU, SPX and TRAN.
TRAN at MA(50) resistance.
Bearish Engulfing in NASDAQ.
Dark Cloud Cover in UTIL.
Looks like a topping process.

 

The "Big M" patterns confirmed in many indices.
INDU "Big M" targets = MA(50)@13300, previous top and low @ 13250, beginning of left arm @ 13000.
SPX "Big M" target = 1400.
NASDAQ "Big M" target = 3050 or 3000.
The "Big M" at the end of very big Ending Diagonal doesn't bode well for SPX.

 

It looks like $USD is moving UP as Wave 3 or C to measured move target near MA(50) and MA(200) meeting point at 80.7.
And $XEU is moving DOWN as Wave 3 or C to measured move target near MA(50) at 126.8.
Crude Oil rebounded to resistance level and MA(50) at $83.8, may go DOWN to Head and Shoulders target near $77.5.
If VIX "W" pattern confirmed, VIX may go UP to 19 or 21.
Gold broke ED support line, may go DOWN to $1725.
If Silver breaks "Big M" neckline support near $33.5, it may go DOWN to $32.4 or $32.

 

INDU and SPX rebounded from previous tops and MA(50) near targets 13300.
MACDs may give BUY Signals soon.
TRAN rebounded and met resistance @ MA(200.
NASDAQ rebounded from "Big M" target@3050 and met resistance @ MA(50).
UTIL rebounded from MA(50) may pass previous top soon.

 

Gold and Silver went DOWN to near targets ($1725 and $32.4) as expected, then rebounded. May be Wave .4.
Wave .5 targets may be MA(50)s near $1712 and $32.18
Crude Oil Head and Shoulders pattern versus reverse Head and Shoulders pattern. MA(50) and MA(200) may favor the former.
$USD "Death Cross" sometimes marks the low.
$USD "Big M" target = 78.5. MACD may give SELL Signal soon.
$XEU "W" target = 131.7. MACD may give BUY Signal soon.

 

Gold and Silver fell to second targets, $1712 and $32.18, near MA(50) and "Big M" pattern targets as expected.
This may be the end of Wave .5 and there may be a rebound back to "Big M" neck line near end of Wave .4.
Note: Golden Cross with MACD and RSI SELL Signals is not a good bullish indicator.
Crude Oil's Head and Shoulders pattern, reverse Head and Shoulders pattern and a new "Big M" pattern. MA(50) and MA(200) may be strong resistances. Head and Shoulders and "Big M" patterns may prevail.
Failed $USD "Big M" and $XEU "W" patterns may turn into "W" and "Big M" patterns.