Forex view: S&P500 outperformance to continue, like short EUR/USD and GBP/USD
Perhaps one of the most interesting aspects of the current risk rally is how many investors are still pessimistic, looking not for the gains to extend but how to position..
BullishUS best still have steam against never ending Euro lethargy
View: S&P500 outperformance to continue, like short EUR/USD and GBP/USD Perhaps one of the most interesting aspects of the current risk rally is how many investors are still pessimistic, looking not for the gains to extend but how to position for the turn when it eventually comes. Of course there are bulls o
Actually, it has been rallying exactly as expected!
I thought all Elliot Wavers were looking for Dow 400!
The vast majority of traditional Elliott Wavers are bearish. However, the impulsive structure is wrong and that’s why no one can really predict with traditional EW. My first call in U.S. equities following discovering the adjustment/reorganization of the impulsive structure was in July 2010 when I called for the DOW to move to 12,600+/- 200 points and then drop 20%. (it’s in my book and was on LinkedIn too).) If you look at the video on my blog explaining the changes I made to the structure and how wave relationships work the final call in that video (in early September last year) was for the lowest the S&P would go was 1,076… (ok, I was wrong by 1.23) From there it would be bullish to around the 2007 highs. Yes, all is moving according to plan..
Which raises the question, where is your target on the topside now? And do you share a preference for the US over pretty much everything else (bar Japan maybe, assuming JPY
As I mentioned above the target is somewhere around the 2007 highs. Could be just below or just above. I don’t follow European equities at this point. Asian are broadly aligned with the U.S. The U.S. Dollar has hit a 16.5 & 33 year cycle low. It’s going to be strong for 5 years… There’s an article on my blog about that: http://harmonicelliottwave.blogspot.jp/2012/03/us-equity-and-dollar-major-reversal.html.
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