We have had unprecedented volatility in the market. the step 4 up of the 3rd Leg down is struggling to hold its gains. Ether we are going down in step 5 down to make new lows or the step 4 up has not been completed yet.China is doing more QE yet their market keeps on going to new lows.
It is likely that step 4 up has not been completed yet. We are taking a neutral position here even though energy stock are making new lows. Gold stocks have weakened yet Gold itself is trying to consolidating nd rally in Gold may not be over yet.
All commodities are going down because of deflation around the world and lack of demand from China and other developing economies.
It is likely that step 4 up has not been completed yet. We are taking a neutral position here even though energy stock are making new lows. Gold stocks have weakened yet Gold itself is trying to consolidating nd rally in Gold may not be over yet.
All commodities are going down because of deflation around the world and lack of demand from China and other developing economies.
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2 comments :
Kanwar,
Based on action today it appears the 4th sub step up from step 1 down completed. Based on Elliot wave theory we are due for 5th step down to new lows, then an a-b-c correction (Step 2 up) , before the larger step 3 down. What are your thoughts?
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