Asian markets traded broadly higher this week while traded sharply lower – with a mixed bag in other markets, and here’s a reminder from previous week’s;
As our Fund Managers are aware, our proprietary trend signal analytic triggered BULLISH for the Shanghai Composite Index (SSEC) all the way back on July 28, 2014 – and have remained that way ever since. Our initial upside targets suggested a minimum move into the 3850-4350 range and now those levels have been achieved there is no reason why this index can’t go all the way back to the 6000 level – last seen in 2007!.
This index has now gained over 100% since our BULLISH trend signal triggered back in July last year. The question is now is – what next?.
As usual however, we will always be guided by our objective and accurate trend models
4 Important Intermediate FX Trend Changes This Past Week!… Weekend Currency Forecast
Our current Elliott wave count labeling is that some longer-term trending moves are either complete or very close to complete – however what those Elliott wave counts do not tell us is precisely when they have finished and when new reversal trends are beginning.
Fortunately our proprietary trend analytic will do this job for us – and as we have always done, as soon as anything important changes we’ll immediately email our Hedge Fund clients.
From July 2014, and as our proprietary trend analytic models have triggered new intermediate trend signals, 6 major currencies have now accumulated a staggering total of pips based on those trend signals and they are still going.
And so while a case be made in each case from an Elliott wave count labeling perspective that important turning points are upon us, it is also more important to remember that for each of these major currencies there remains no bearish technical evidence at this time that supports the turning point case for any of the major currencies. Simple.
The day will inevitably come when important multi-month lows (or highs) are technically confirmed by our trend signal analytic – but until that day arrives the status quo remains.
Post By: Mark Ackerman: A Financial Engineer,Brilliant Wharton Graduate Using Elliot Wave Principle Fractals and Fibbs as well as Quant Models for analysis of different 18 Asset Classes, 35 years of trading experience.Click Here To Learn More
