Monday, 29 August 2016

Monthly chart Elliott Wave counts for S&P 500, ASX 200, FTSE 100, Nikkei, Hang Seng and EURO STOXX 50

The S&P 500 has hit record highs in recent months. No other global index of note is anywhere near record highs, a glaring divergence which combined with the low volume nature of the rallies from 2009 marks the S&P 500's record high as a fake, a false upside break. This post shows monthly chart Elliott Wave counts for the S&P 500, ASX 200, FTSE 100, Nikkei, Hang Seng, and EURO STOXX 50 indexes. All look poised to begin strong declines.

S&P 500. Running flat.

ASX 200. The waves are clear at all degrees of trend. This market is beginning a strong wave 3 of C decline. 

FTSE 100 forming a flat correction since late 1999.

Nikkei wave count from its 1989 peak. 

Hang Seng



  1. A definite possibility, right now. The S&P 500 count viewed in isolation is a bit of a stretch, maybe also the Nikkei, but the other markets are clear, so I expect those two to follow. Marginal new high by the S&P 500 wouldn't change my counts but strong declines need to start by mid September... if not I'll change my tune.