All posts by Daud Bhatti

SPX: More Upside Expected

Daud Bhatti

SPX Short Term Elliott Wave view suggests that Index is rallying as 5 waves impulse Elliott Wave structure from 12/2/2017 low. Up from 12/2/2017 low (2605.52), Minute wave ((i)) ended at 2665.19, Minute wave ((ii)) ended at 2624.75, Minute wave ((iii)) ended at 2807.54, and Minute wave ((iv)) ended at 2768.87. Index has since broken above Minute wave ((iii)) at 2807.54 suggesting that Minute wave ((v)) higher has started. more…

DAX: Correction In Progress

Daud Bhatti

DAX Short Term Elliott Wave view suggests that Intermediate wave (X) ended at 12731.46. Rally from there is unfolding as a 5 waves impulsive Elliott Wave structure where Minutte wave (i) ended at 12943, Minutte wave (ii) ended at 12881.5, Minutte wave (iii) ended at 13408.5, Minutte wave (iv) ended at 13328.5, and Minutte wave (v) of ((a)) is proposed complete at 13421.5. Index is correcting cycle from 1/2/2018 low within Minute wave ((b)) in 3, 7, or 11 swing before the rally resumes. more…

Nasdaq Ended Correction

Daud Bhatti

Elliott Wave view for Nasdaq suggests that the Index has ended the correction to the cycle from 12/5 low at 6383.25 and from there it it has started the next leg higher. Up from Intermediate wave (4) low on 12/5, the rally unfolded as a double three Elliott Wave structure where Minor wave W ended at 6545.75 and Minor wave X is proposed complete at 6383.25. However, for this view to gain validity, the Index needs to break above Minor wave W at 6545.75. more…

SPX Bullish Sequence

Daud Bhatti

SPX Short term Elliott Wave view suggests that the rally to 2664.58 ended Minor wave 1 as a Leading diagonal. Below from there Minor wave 2 ended as a zigzag correction at 2624.19 low, above from there Minor wave 3 remains in progress as a double structure. And showing the incomplete bullish sequence to the upside. The Minutte wave (a) of ((w)) ended in 5 waves at 2671.92 high. Where internals of that leg Subminutte wave i ended at 2633.72, Subminutte wave ii ended at 2626.32 low, Subminutte wave iii ended at 2669.68. Subminutte wave iv ended at 2663.68 and Subminutte wave v of (a) ended at 2671.92. Below from there, it ended the Minutte wave (b) 2651.78 low, above from there Minutte wave (c) of ((w)) ended in another 5 waves at 2695.38 peak and also ended the cycle from 12/06 low 2624.19 there. more…

Nasdaq To Correct Before Resuming Rally

Daud Bhatti

Nasdaq Short Term Elliott Wave view suggests that Intermediate wave (3) ended at 6429.5 and Intermediate wave (4) pullback is proposed complete at 6231.75. Subdivision of Intermediate wave (4) is unfolding as a double three Elliott wave structure where Minor wave W ended at 6283, Minor wave X ended at 6391.75, and Minor wave Y of (4) ended at 6231.75. Index still needs to break above Intermediate wave (3) at 6429.5 for this view to gain validity. Until then, we still can’t completely rule out a break below Intermediate wave (4) at 6231.75 in a double correction. more…

Dow Mini Futures Elliott Wave Analysis

Daud Bhatti

Dow Future Short term Elliott Wave view suggests that Intermediate wave (4) ended at 23204. The rally from there is proposed to be unfolding as a leading diagonal Elliott wave structure. Minute wave ((i)) ended at 23464, Minute wave ((ii)) ended at 23241, Minute wave ((iii)) ended at 23599 and Minute wave ((iv)) ended at 23572. Cycle from 11/15 low (23204) is mature and has reached 1.236 extension, but while pullbacks stay above 23618, Index still can see one more leg higher to end Minute wave ((v)). more…

EURAUD Could See More Upside

Daud Bhatti

EURAUD Short Term Elliott Wave view suggests the decline to 1.5057 ended Intermediate wave (X). Up from there, the rally unfolded in 5 waves impulse Elliott Wave structure, suggesting that while pullbacks stay above 1.5057 low, pair could see more upside. Up from 1.5057, Minute wave ((i)) ended at 1.5234, Minute wave ((ii)) ended at 1.5075, Minute wave ((iii)) ended at 1.5606, Minute wave ((iv)) ended at 1.5481, and Minute wave ((v)) ended at 1.5657. more…

SPX Elliott Wave Analysis

Daud Bhatti

SPX Short-Term Elliott Wave view suggests that the rally to 2597.02 ended Intermediate wave (3). Intermediate wave (4) pullback ended at 2557.45 as a double three Elliott Wave structure. Down from 2597.02, Minor wave W of (4) ended at 2566.33, Minor wave X of (4) ended at 2587.66, and Minor wave Y of (4) ended at 2557.45. Up from there, the rally appears to be unfolding as an impulse Elliott Wave structure. Minute wave ((i)) ended at 2572.84, Minute wave ((ii)) ended at 2563.3, and Minute wave ((iii)) ended at 2590.09. more…

FTSE: Ended Correction

Daud Bhatti

FTSE Elliott Wave view suggests that decline to 7199.5 ended Primary wave ((4)). Up from there, the rally is unfolding as an impulse Elliott Wave structure where Minor wave 1 ended at 7327.5 and pullback to 7289.75 ended Minor wave 2. Rally to 7494.34 ended Minor wave 3, and pullback to 7473.12 ended Minor wave 4. Minor wave 5 ended at 7565.11 and this also ended Intermediate wave (A) of a zigzag Elliott Wave structure from 9/15 low (7199.5). more…

AUDUSD Support At 0.7815

Daud Bhatti

AUDUSD Short Term Elliott Wave view suggests that Primary wave ((W)) ended at 0.7731 on October 6th low. Up from there, Primary wave ((X)) is currently unfolding as a double three Elliott Wave structure. Intermediate Wave (W) of ((X)) ended at 0.7807 and Intermediate wave (X) of ((X)) ended at 0.7815. Near term, while pullbacks stay above 0.7815, but more importantly above 10/6 low at 0.7731, expect pair to extend higher. At this stage, pair still needs to break above Intermediate wave (W) at 0.7815 to give more validity to this view. Until then, we can’t rule out a double correction in Intermediate wave ((X)). more…